Archive: Business/Financial

Thales Delivery Orders Will Field Nearly 40,000 JTRS Handheld Radios

Thales announced Oct. 29 two awards for its AN/PRC-148 JTRS handheld radio from the Joint Program Executive Office Joint Tactical Radio System (JPEO JTRS) under the Consolidated, Interim, Single-channel, Handheld Radio (CISCHR) contract. The delivery orders will field almost 40,000 AN/PRC-148 JTRS Enhanced MBITRs (JEMs), as well as ancillaries, with an aggregate total contract value […]

Rapiscan To Market Brijot’s Stand-Off Millimeter Wave Body Scanner

Rapiscan Systems and Brijot Imaging Systems have signed a seven-year agreement that allows Rapiscan to market and sell Brijot’s passive millimeter wave screening body scanner that is capable of screening individuals from several meters away. Under the arrangement, Rapiscan will put its own label on Brijot’s BIS-WDS GEN 2 screener, calling it the Rapiscan WaveScan […]

L-3 Introduces Says Earnings Will Exceed Sales Growth Next Year

L-3 Communications [LLL] this week introduced its financial guidance for 2008, saying its net earnings will grow faster than the company’s organic sales. Earnings per share (EPS) in 2008 are expected to be between $6.41 and $6.55, representing about 10 percent growth over the company’s expectations for 2007. Organic sales are expected to grow by […]

Cross Match Drops Price of Planned IPO

By Calvin Biesecker Cross Match Technologies yesterday said it has lowered the expected price range of its forthcoming initial public offering (IPO), suggesting that net proceeds from the sale of stock could be about $23 million less than planned when the company refiled to go public last month. Under the amended filing with the Securities […]

iRobot Granted Injunction In Trade Secrets Lawsuit

iRobot Corp. (IRBT) yesterday announced the U.S. District Court for the District of Massachusetts has granted, in part, iRobot’s request for preliminary injunction in a lawsuit against former employee Jameel Ahed and his company, Robotic FX, Inc., prohibiting use of critical features incorporated in the design of the Negotiator. iRobot produces the combat-proven iRobotr PackBotr […]

General Dynamics UK Team Awarded Assessment Phase For MoD LISTENER Program

General Dynamics [GD] United Kingdom Limited has been awarded a 10-month, approximately $2 million contract for the Assessment Phase of the U.K. Ministry of Defence’s LISTENER program. LISTENER is a pioneering program with the goal of joining a number of U.K. intelligence, surveillance, target acquisition and reconnaissance (ISTAR) systems with coalition partners who can fuse […]

Rapidly Changing Environment Needs Streamlined Contracting, Raytheon Exec Says

By Ann Roosevelt The United States should keep an eye on acquisition developments around the world, but streamlining the process at home would help in a rapidly changing environment, according to a Raytheon [RTN] executive. "I don’t think we need to reinvent contract vehicles," Smith said. "We have plenty of contract vehicles–maybe we have too […]

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), […]