Archive: Business/Financial

Aerospace Industry Sales May Top $200 Billion This Year, Douglass Says

Aerospace industry sales may top $200 billion this year, according to John Douglass, the outgoing Aerospace Industries Association president and CEO. That would be a roughly 9 percent advance from last year. Douglass announced last December in his annual industry review and forecast that total 2006 deliveries were estimated at $184 billion, up from a […]

Navy’s ERP Effort: Transforming Business Practices

By Geoff Fein Earlier this month the Navy transitioned to its new enterprise resources planning (ERP) system that will provide a standard set of management tools to service organizations to improve businesses processes and provide interoperable data for financial, acquisition and supply chain management, according to a top Navy official. There are two ways to […]

Northrop Grumman Posts Strong Third Quarter Earnings

By Calvin Biesecker Northrop Grumman [NOC] joined in the defense earnings hit parade yesterday, logging a hefty increase in net income helped by higher sales, improved margins, reduced corporate expenses and a one-time gain from the reorganization of a former joint venture. Net income increased 62 percent to $489 million, $1.41 earnings per share (EPS), […]

Business Jets, Combat Vehicles Lift GD To Strong Third Quarter

By Calvin Biesecker General Dynamics [GD] yesterday posted strong third quarter financial results due to surging sales and earnings at its Aerospace and Combat Systems segments and the company upped its earnings guidance for 2007. GD’s shipbuilding business also continued its solid performance, boosting earnings and margins despite a scant increase in sales. The results […]

RAFAEL Changes Name, Business Structure

TEL AVIV, Israel–Rafael Advanced Defense Systems is the new name for the Israeli company formerly known as RAFAEL Armament Development Authority, which has been undergoing an extensive assessment and overhaul of its business activities. "I am convinced that the changes that have been implemented, with the full cooperation of employees and unions, will assist Rafael […]

UTC Posts Strong Third Quarter Results

By Calvin Biesecker Led by operating profit gains in five of its six segments, United Technologies [UTX] yesterday reported strong third quarter earnings and sales and the company increased its sales expectations for 2007. Net income increased 20 percent to $1.2 billion, $1.21 earnings per share (EPS), from $996 million (99 cents EPS) a year […]

Marco Pistoni Named Business Management Director For MEADS

Marco Pistoni has been named Business Management Director for MEADS International (MI) and the Medium Extended Air Defense System (MEADS) program. The multinational joint venture MI made the announcement Oct. 4. MI consists of MBDA Italia S.p.A., Lenkflugkorpersysteme (LFK) in Germany and Lockheed Martin [LMT] in the United States. Pistoni joins the program management team […]

Raytheon Sees IDIQ As Major Business Growth Area, Executive Says

By Ann Roosevelt Raytheon [RTN] sees major growth in a relatively new business area for them–the world of Indefinite Delivery/Indefinite Quantity (IDIQ) acquisition, according to a company executive. Since starting the business effort, growth has been stunning, Susan Haeseler, director of the Raytheon IDIQ Office, told Defense Daily in an interview yesterday. "The volume has […]

Simulations Vital For Soldier Training, General Says

By Ann Roosevelt The Army is using simulations to take advantage of the fact that today’s recruits are Internet savvy and multi-task oriented, according to the service’s top recruiter. "Absolutely we’re using more simulation," Lt. Gen. Benjamin Freakley, commanding general, Army Accessions Command/ deputy commanding general Initial Military Training, said at the Defense Writers Group […]


NASA Gives Contract Change To European Space Agency NASA has awarded a $27.5 million contract change to the European Space Agency Space Technology Center for further engineering on the International Space Station Node 2 and 3 modules. The contract modification extends the current contract to reflect adjustments made to the station assembly manifest and to […]