Archive: Business/Financial

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), […]

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 […]

GAO Denies Raytheon Protest Over L-3 Team Win For Joint Cargo Aircraft Program

By Ann Roosevelt The Government Accountability Office (GAO) Sept. 27 denied a protest by Raytheon [RTN] over the potential $2 billion Army-Air Force Joint Cargo Aircraft (JCA) program won by a team led by L-3 Communications [LLL]. L-3, Finmeccanica’s Alenia North America, Boeing [BA] and Global Military Aircraft Systems offered the C-27J Spartan. "With the […]