Archive: Business/Financial

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Day & Zimmerman Acquires Small Government O&M Services Company

The engineering and construction firm Day & Zimmermann (D&Z) on Tuesday said it has acquired M2 Services Corp., a small company that provides aviation and vehicle heavy maintenance, repair and overhaul (MRO) services to the Defense Department and other government customers. Terms of the deal were not disclosed. D&Z said that Texas-based M2 expands its […]

General Dynamics Chairman and CEO Phebe Novakovic. Photo: General Dynamics

GD Completes Acquisition Of CSRA

General Dynamics [GD] on Tuesday said it has completed its $9.7 billion acquisition of CSRA Inc., allowing it to create a new information technology segment that is the second largest business serving the federal IT sector. GD said it expects the deal to be accretive to its earnings per share and free cash flow in […]

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Cowen Report: Budget Flexibility, Sector Consolidation Improving Outlook For Defense IT Industry

Department of Defense information technology (IT) partners are poised for improved revenue pick-ups in FY ’18 and FY ’19 due to more flexible budgeting for cyber and cloud projects and a greater embrace of sector consolidation, according to a new report from financial firm Cowen [COWN]. The latest defense industry outlook report from Cowen, released […]

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GD Nabs Potential $629 Million Contract To Provide IT Support For DHS

General Dynamics [GD] won a potential six-year, $628.6 million task order from the General Services Administration (GSA) to provide information technology (IT) support related to the Department of Homeland Security’s headquarters campus at the former St. Elizabeth’s hospital in Washington, D.C. GD’s One Source joint venture between its IT and Mission Systems businesses was the […]

The KC-46 tanker. (Boeing photo)

Boeing Restructuring Defense Segment To Align With Strategy

Boeing [BA] is reorganizing its defense segment by adding two new divisions and eliminating another to better align with its market strategy, according to a company spokesman. The two new divisions, Commercial Derivative Aircraft and Missile and Weapon Systems, will report directly to Leanne Caret, CEO of Boeing Defense, Space & Security, Todd Blecher, a […]

SAIC CEO Tony Moraco

Lower Taxes Help Boost SAIC To Strong Earnings In Fourth Quarter

Science Applications International Corp. [SAIC] ended its fiscal year with strong earnings in the fourth quarter driven largely by lower taxes and to a lesser extent by higher operating income. Net income soared 46 percent in the quarter to $51 million, $1.16 earnings per share (EPS), from $35 million (77 cents EPS) a year ago. […]

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DHS’ Confidence In Northrop Grumman Proposal For Biometric System Higher Than Leidos, GAO Decision Shows

The Department of Homeland Security’s award to Northrop Grumman [NOC] last fall of a contract to develop a new biometric storage and matching system was based on having higher confidence than the one losing bidder that protested, which was Leidos [LDOS], and to a lesser degree a lower price, according the Government Accountability Office (GAO). […]

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CACI Withdraws Bid For CSRA Giving GD Clear Path To Complete Deal

Stepping aside from a bidding war, CACI International [CACI] on Tuesday withdrew its $10.4 billion unsolicited offer to acquire CSRA, Inc. [CSRA], leaving General Dynamics [GD] alone to close its previously agreed transaction to purchase CSRA. GD originally agreed to acquire CSRA for $9.6 billion in cash but a counteroffer made by CACI that combined […]

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Boeing HorizonX Invests In Australian Satellite Communications Firm

Boeing [BA] on Monday said its HorizonX ventures arm has made an investment in a small Australian company focused on nanosatellite communications for remote areas. Boeing doesn’t disclose the specifics of its HorizonX investments other than to say they range in the singled millions of dollars to the low double-digit millions of dollars. For the […]