Archive: Business/Financial

ATK’s BTERM Test A Story of Success And Engine Failure

By Geoff Fein ATK [ATK] this week successfully tested two unguided Ballistic Trajectory Extended Range Munition (BTERM) rounds, but a rocket motor’s inability to fire on the first of two guided BTERM shots delayed further tests. The company was set to test two guided BTERM rounds at White Sands Missile Range, N.M., Jan. 22, after […]

UTC Finishes 2007 With Strong Quarter, Sees Robust 2008

By Calvin Biesecker United Technology Corp. [UTX] yesterday posted strong fourth quarter results driven by sales and profit gains at each of its operating segments and the diversified industrial company expects continued solid results in 2008. Despite predictions of difficult economic conditions in many parts of the world, UTC officials said they don’t foresee "dire […]

GD Reports Strong Fourth Quarter Driven By Combat Systems And Business Jets

By Calvin Biesecker General Dynamics [GD] topped a strong year with record quarterly income, sales and free cash flow, driven by exceptional results in both its military vehicle and business jet segments, the company reported yesterday. The strength in Combat Systems was widespread, including domestic and international military vehicle programs, ammunition, ordnance and advanced technology […]

Raytheon Sells Oil Extraction Technology To Schlumberger

Raytheon [RTN] yesterday said it has sold intellectual property it has developed that combines radio frequency and critical fluids (CF) technologies for oil extraction to oilfield services provider Schlumberger [SLB] for an undisclosed amount. Under the deal terms, Raytheon will receive royalty payments from Schlumberger if and when the company is able to make money […]

SOCOM Signs Contract With BAE For CV-22 Gun

BAE Systems will develop an interim all-quadrant defensive weapon system for the Air Force’s CV-22 Osprey aircraft, the company reported. The $491,000 contract awarded earlier this month by the U.S. Special Operations Command calls for rapid development, installation, testing, and qualification of a weapon capability that provides defensive fire protection to all quadrants of the […]

General Dynamics Canada Achieves CMMI Level 5

General Dynamics [GD] Canada Jan. 21 announced it has achieved Capability Maturity Model Integration (CMMI) Level 5, the highest rating available from the Software Engineering Institute (SEI). The company’s announcement follows recent completion of rigorous and independent evaluation of the company’s Ottawa and Calgary operations. As a result, General Dynamics Canada joins a select group […]

BAE To Acquire Tenix To Expand Defense Business In Australia

By Calvin Biesecker Britain’s BAE Systems said last Friday that it has agreed to acquire the defense businesses of Australia’s Tenix Group for up to $695.8 million in cash in a deal that would more than double the company’s presence in Australia. BAE said the acquisition is a significant step in its strategy to be […]

Defense Watch

The Latest Word On Trends And Developments In Aerospace And Defense Undecided. House Minority Leader John Boehner (R-Ohio) told reporters last week that the vacancy on the House Appropriations Committee caused by Rep. Roger Wicker’s (R- Miss.) shift to the Senate would be discussed during a Republican party retreat this week. One of the handful […]

Contracts

Raytheon Gets $300 Million Paveway Contracts In 2007, Half Of It In December Raytheon Co. [RTN] received a record $300 million-plus in contracts for its Paveway smart-bomb precision-guided munitions last year, with half of that coming in December alone, the company reported. The contracts are a combination of direct commercial sales and foreign military sales […]

Cobham To Further Expand U.S. Business With SPARTA Acquisition

Britain’s Cobham plc yesterday said it has agreed to acquire SPARTA, Inc., for a net price of $416 million in cash, expanding its business base in the United States, particularly in the intelligence and missile defense markets. Cobham said that its U.S. sales for the past year, if SPARTA is included, are $1.4 billion. SPARTA, […]