Archive: Business/Financial

Kathy Warden, president and chief operating officer of Northrop Grumman. Photo: Northrop Grumman

Northrop Grumman Posts Higher Sales And Income In Third Quarter

Buoyed by the acquisition of Orbital ATK, a positive cost claim, improved segment margins, a pension benefit and lower taxes, Northrop Grumman [NOC] on Wednesday reported higher sales and earnings in its third quarter. The company also raised its earnings and cash flow guidance for 2018 to reflect the cost claim, lower interest expense, a […]

The French Horizon-class frigate FS Chevalier Paul (D621) (foreground) and U.S. Navy aircraft carrier USS John C. Stennis (CVN-74) (background) transit in the 5th Fleet area of responsibility in February 2013. (Photo: U.S. Navy).

Fincantieri And Naval Group Sail To Naval Joint Venture

Italy’s Fincantieri and France’s Naval Group said this week they will launch an alliance to incorporate a 50-50 joint venture to compete for European naval competitions. The two companies are owned, via majority shareholders, by each country’s government. During the September 2017 Franco-Italian Summit, the French and Italian governments announced an intention to start discussions […]

A Royal Saudi Air Force KC-130J Super Hercules aerial refueling tanker delivered to Saudi Arabia in 2016. Photo: Lockheed Martin.

Bipartisan House Bill Pushes to End Arms Sales to Saudi Arabia

A bipartisan House bill announced Oct. 23 aims to prohibit military sales and aid to Saudi Arabia, effectively immediately. Rep. James McGovern (D-Mass.) is sponsoring a new bill co-signed by 20 lawmakers in the House that would ban the Defense Department from providing any assistance — to include security assistance, intelligence, training, equipment, maintenance, testing […]

Boeing Chairman, President and CEO Dennis Muilenburg. Photo: Boeing

Muilenburg Touts T-X, MQ-25 As $60 Billion Franchise; Boeing’s Sales, Earnings Up

Boeing [BA] Chief Dennis Muilenburg on Wednesday said his company’s bids and ultimate wins in the third quarter on two marquis dollar U.S. defense programs were clearly aimed at capturing long-term business worth potentially more than $60 billion for domestic and international customers. Muilenburg said the Air Force’s T-X trainer and Navy’s MQ-25 unmanned aerial […]

Lockheed Martin's F-35 Lightning II at the 2018 Paris Air Show. Photo: Lockheed Martin

Lockheed Martin Delivers Strong Third Quarter, Raises Earnings Guidance

Higher operating profits combined with lower taxes and pension expenses lifted Lockheed Martin [LMT] to a strong third quarter and the company once again increased its outlook for earnings this year. The defense contractor on Tuesday posted a 53 percent boost in net income to nearly $1.5 billion, $5.14 earnings per share (EPS), from $963 […]

Organizational Strategies image.

Applied Insight Acquires Mission IT Firm Organizational Strategies

Applied Insight, which provides information technology (IT) services to federal government customers, on Monday, said it has acquired Organizational Strategies Inc. in a deal aimed at furthering its strategy of becoming a mid-market provider of government services. Terms of the deal for OSI were not disclosed. OSI has about 100 employees and Applied Insight 400. […]

Pilatus PC-9 aircraft leased by E.I.S. Aircraft Operations for aerial training. Photo: QinetiQ

QinetiQ Completes Acquisition Of German Airborne Training Services Company

Britain’s QinetiQ last Thursday said it has completed its $90.8 million acquisition of Germany’s E.I.S. Aircraft Operations, a provider of airborne training services. QinetiQ, which first announced the deal in April, said the acquisition strengthens “our capability integration, threat representation and operational readiness offering to customers, while accelerating our international growth.” QinetiQ also said that […]

Aerial view of the Pentagon, Arlington, VA

Lawmakers Signalling DoD Should Prepare for Smaller FY ’20 Budget

The president and lawmakers are sending signals to the Defense Department not to expect any major increase in next year’s budget, and that some form of cut could even be in the cards. On Oct. 17, President Trump said he is demanding his cabinet members cut 5 percent from their future federal budget plans, and […]

Military Helicopters Significant Part of Projected Helo Sales Rebound, Forecast Says

After five years of stagnation and program delays in key regions of the world, the global military and civil helicopter market is poised for a rebound, according to a recent analysis by consulting firm Frost & Sullivan. Utility helicopters will account for $50 billion in sales through 2026, attack helicopters–$48 billion, maritime helicopters–$40 billion, and […]