Archive: Navy/USMC

Freedom Performing Better Than Expected, Lockheed Martin Official Says

By Geoff Fein Over the remaining nine days, Lockheed Martin [LMT] and the Navy will put the  Freedom (LCS-1) through her paces preparing the vessel for acceptance trials slated to begin next month, a company official said. Freedom, the first of the new class of Littoral Combat Ships designed to carry interchangeable mission packages, transforming […]

Lockheed Martin’s Littoral Combat Ship USS Freedom Begins Builder’s Trials

By Geoff Fein Lockheed Martin’s [LMT] USS Freedom (LCS-1), the first of a new breed of multi-mission Littoral Combat Ships (LCS), began builders trials Monday, nearly two years since she was side launched into the Menominee River in Marinette, Wis. The trials–which are a coordinated effort between the Navy and the Lockheed Martin team–will include […]

Northrop Grumman Posts Higher Earnings, Sales, Despite Mixed Operating Results

By Calvin Biesecker Northrop Grumman [NOC] yesterday reported solid increases in net income and sales although the higher earnings were driven by lower corporate and pension expenses as three of the company’ operating segments saw their income decline despite top line growth in all. The company’s shipbuilding segment posted the largest operating decline driven by […]

Stackley Sworn In As New Navy Acquisition Chief

By Geoff Fein Sean Stackley was sworn in yesterday as Assistant Secretary of the Navy for Research, Development and Acquisition ASN (RDA). Stackley, a retired Navy officer, has been Republican staff lead for the Senate Armed Services Committee Seapower subcommittee for more than two years. The Senate approved his nomination to the post last week […]

Raytheon Working New Proposal For FY ’09 Buy of Tomahawk Block IV Cruise Missile

By Geoff Fein Raytheon [RTN] is currently working on a new offer to the Navy for the company’s Block IV Tomahawk cruise missile, though the new contract will likely not be for a multi-year (MY) buy, a company official said. The Navy and Raytheon are coming to the end of a five-year multi-year contract. FY […]

Pentagon Seeks Info On Navy Destroyer Shift, Senators Suggest Holding Funds

By Emelie Rutherford A defense official said late last week the Pentagon is not sold on the Navy’s attempt to stop buying DDG-1000 destroyers and build eight more DDG-51s, just as General Dynamics’ [GD] Bath Iron Works (BIW) and Raytheon [RTN] supporters on Capitol Hill attacked the plan. Shortly after the Navy last Thursday afternoon […]

Navy To Buy Eight DDG-51s As It Cancels Further Zumwalt Buys <meta content="Micro" wo="

By Geoff Fein The Navy yesterday acknowledged that it would seek to buy eight DDG-51s and cease any further acquisition of DDG-1000 beyond the two already planned. "The Department of the Navy has submitted the FY ’10 POM (program objective memorandum) with a modification to the surface combatant line. The modification truncates the DDG- 1000 […]

Missiles, Support Activities Help Drive Strong Earnings At Raytheon

By Calvin Biesecker Raytheon [RTN] yesterday reported strong second quarter financial results driven by strong earnings at its missiles, and mission and training support businesses coupled with improved operating performance, lower pension expenses and growth at each of its segments. The strong results, combined with expectations for continued strong performance the rest of the year, […]

DDG-1000–Most Capable Combat Ship Navy Has Ever Built, Raytheon Official Says

By Geoff Fein A overlooked point in the debate whether to end the DDG-1000 program is that the ship is the most capable vessel and most successful shipbuilding program the Navy has ever had, according to a top industry official on the contractor team. Raytheon’s [RTN] Dan Smith, president of the company’s Integrated Defense Systems […]

New Navy Acquisition Czar Stackley To Start Job In Coming Days

By Emelie Rutherford The Navy will have a new acquisition chief soon, because the Senate on Wednesday approved the nomination of congressional staffer Sean Stackley to the post. Stackley will assume his new duties as assistant secretary of the Navy for research, development, and acquisition "within the next few days," after he is sworn in […]