Archive: Business/Financial

Lockheed Martin Chairman, President and CEO Marillyn Hewson

Tax Provision Sends Lockheed Martin To Fourth Quarter Loss, But Benefits Coming And Operating Results Strong

Lockheed Martin [LMT] on Monday posted a loss in the fourth quarter due to a one-time negative tax impact but overall the company’s operating results were strong and earnings, after adjusting for the tax charge, easily beat analysts’ expectations. The tax provision is related to tax reform legislation signed into law last December that companies […]

Vectrus President and CEO Chuck Prow. Photo: Vectrus

Vectrus Acquires Technology Solutions, Supply Chain Management Provider SENTEL

Vectrus, Inc. [VEC] last week said it has acquired U.S. government technology solutions provider SENTEL Corp. in a $36 million cash deal that strengthens its technology capabilities and expands its customer base, including with the intelligence community. Vectrus, which was spun out of the former Exelis in 2014, provides infrastructure asset management, logistics and supply […]

BTP supports MILSTAR EHF command post antenna systems. Photo: BTP Systems

Serco Acquires BTP Systems To Add C5ISR Capabilities

Britain’s Serco Group has completed its $20 million acquisition of U.S.-based BTP Systems in a deal that deepens its expertise in satellite communications and radar engineering services. The deal was first announced last October. BTP, which is based in Massachusetts, had about $20 million in sales last year and earnings before interest, taxes, depreciation and […]

L3 Technologies President and CEO Christopher Kubasik. Photo: L3

Tax Benefit Pushes L3’s Earnings Higher In Fourth Quarter As Sales Dip

Unlike other defense companies this week that reported negative tax provisions in their fourth quarter and year-end financial results for 2017, L3 Technologies [LLL] on Thursday said its net income benefited from a new tax law, which led earnings higher amid a modest decline in sales in the quarter. Net income soared 54 percent to […]

Artist's rendering of the Air Force's Long Range Strike Bomber, designated B-21. Photo: Air Force.

Tax Change Hits Northrop Grumman’s Earnings But Benefits Await In 2018

Northrop Grumman [NOC] on Thursday posted lower net income in its fourth quarter stemming from a new tax reform law that went into effect on Jan. 1 and a discretionary pension contribution but the company said that lower taxes will result in benefits to employees, investors and capital investments. Net income dived 66 percent to […]

Raytheon Chief Financial Officer Anthony "Toby" O'Brien said the company's capital expenditures will increase 50 percent in 2018. Photo: Raytheon

Raytheon’s Earnings Drop In Fourth Quarter On Tax Bite; Sales Up

Raytheon [RTN] on Thursday posted lower earnings in its fourth quarter stemming from provisions in a new tax law and to a lesser extent a voluntary payment into its pension plans but sales were higher and the company is projecting top and bottom line increases in 2018. Net income tumbled 29 percent to $393 million, […]

UH-72A Lakota
Photo: U.S. Army

Army Wins Appeal Against Leonardo Lawsuit Blocking UH-72 Sole-Source Contracts

The Army has won an appeal against Leonardo’s lawsuit attempting to block its pursuit of sole-source contracts for Airbus’ UH-72 Lakota helicopters. The U.S. Court of Appeals announced its decision Tuesday reversing a 2016 court decision in a lawsuit filed by defense contractor Leonardo, then known as AgustaWestland, which claimed the Army must allow for […]

Under a $578 million contract with the TSA, Peraton will help sustain security equipment, such as Advanced Technology X-Ray systems supplied by Rapiscan Systems to screen carry-on bags at U.S. airports. Photo: Rapiscan Systems

Leidos Withdraws Protest Of TSA Award To Peraton

The Transportation Security Administration (TSA) this week lifted a stop work order it had placed on Peraton last October pending the outcome of a protest by Leidos [LDOS] of a potential $578 million contract the agency awarded Peraton for support of transportation security equipment at airports nationwide. Leidos, which was the incumbent on the contract, […]