Archive: Business/Financial

L-3 Boosts Dividend

L-3 Communications [LLL] on Tuesday said it will be increasing its quarterly stock dividend by 20 cents to 30 cents per share, a move that is in line with its emphasis for the past year of deploying more cash either to bolster its stock price or to directly reward shareholders. "The strength of L-3’s cash […]

SRA Posts Higher Earnings, Sales In Second Quarter

SRA International [SRX] yesterday reported higher second quarter earnings and sales, which were driven largely by acquisitions. Net income increased 8 percent to $18 million, 30 cents earnings per share (EPS), compared to $16.7 million (29 cents EPS), a year ago, nipping consensus estimates by a penny. A year ago the sale of a business […]

Boeing To Provide Egypt With Apache Longbow Crew Trainer

Boeing [BA] recently said it was awarded a $20 million contract to provide an AH-64D Apache Longbow Crew Trainer (LCT) and life-cycle support to the Egyptian air force. "We are committed to guaranteeing the readiness and safety of our customers," Tony Jones, Boeing vice president, Training Systems and Services, said. "The LCT is extremely successful […]

General Dynamics To Supply Spain With Helicopter Missiles

General Dynamics [GD] European Land Systems recently said its General Dynamics Santa Barbara Sistemas operations in Spain has signed a $64 million contract with the Spanish army for the supply of Air Land (ER) Spike Missile Systems for the HAD Tiger helicopters. The contract calls for the manufacture of 200 missiles and 44 launchers for […]

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 […]

Navy Awards Austal, Bath Iron Works And Bollinger Shipyards JHSV Design Contracts

By Geoff Fein The Navy last night awarded three, $3 million, phase one firm fixed price contracts to develop a preliminary design for the Joint High Speed Vessel (JHSV). The winning bids were Mobile, Ala.-based Austal USA, General Dynamics’ [GD] Bath Iron Works, Brunswick, Maine; and Bollinger Shipyards, Lockport, La. NAVSEA received multiple bids for […]

Cyber Security Business In Line For A Boom

By Jen DiMascio A "downpour" of spending on cyber security is expected in 2008 and 2009, a homeland security lawyer said recently. Last year, a number of security breaches were reported, including incidents that caused 1,500 Pentagon computers to be shut down. The Government Accountability Office issued at least 18 reports on cyber security last […]

Organic Growth, Higher Margins Lead L-3 To Strong Fourth Quarter

By Calvin Biesecker L-3 Communications [LLL] yesterday posted strong fourth quarter income and sales driven by organic growth and better operating performance. Almost all of the sales growth in the quarter and the year was organic, as the company completed just four acquisitions in 2007 valued at just over $200 million, the most recent of […]

Balanced Performance Drives ATK To Strong Third Quarter

By Calvin Biesecker Alliant Techsystems [ATK] yesterday posted strong third quarter financial results due to balanced performance across its operating divisions and the company raised its fiscal year 2008 earnings guidance. That strong performance is expected to continue. ATK is predicting double-digit earnings and strong organic growth in fiscal year 2009. ATK has $4.3 billion […]

Raytheon Ends 2007 With Strong Fourth Quarter

By Calvin Biesecker Raytheon [RTN] yesterday reported strong fourth quarter earnings and sales driven by improvements in all but one of its operating segments and the company recorded a record backlog which positions it well for the near future. Net income increased 64 percent to $598 million, $1.37 earnings per share (EPS), compared to $365 […]