Aerospace Group:

Earnings News & Notes

By Cal Biesecker

Tuesday, May 6th, 2014

SHARE:

OSI Systems [OSIS] 3Q14 3Q13 Sales $204M $198.4M Net Inc. $4.8M, 0.23 $13.5M, 0.66 Net income tumbled largely due to a $7.6 million charge incurred at the company’s Rapiscan Systems division related to tax elections taken on the turnkey screening services program with Mexico to accelerate depreciation and realize immediate cash tax savings of about $21 million. Restructuring and other charges, mainly related to issues with Rapiscan’s work with the Transportation Security Administration (TSA), also helped lead earnings down.…

Space

Upgrading Current GPS Ground System “Now a Viable Option,” As GPS OCX Problems Continue, Space Official Says

Upgrades to the GPS ground system–the Architecture Evolution Plan (AEP)–is an option under consideration by the Defense Department’s space acquisition chief, as problems continue in fielding the GPS Next Generation […]

Congress

Graham Says GOP To Move Ahead On Second Reconciliation Bill, With Defense Funds As Priority

Senate Budget Committee Chair Lindsey Graham (R-S.C.) said Wednesday, with the White House’s backing, his panel will move “expeditiously” on crafting a second reconciliation bill, citing priorities for defense and […]

Pentagon

Hegseth Acknowledges Potential $200 Billion Iran Supplemental Request, Final Figure ‘Could Move’

Defense Secretary Pete Hegseth on Thursday acknowledged the Pentagon could potentially ask Congress for $200 billion in supplemental funding to support the ongoing operation against Iran and replenish munitions used […]

Congress

Counter-Drone Flyaway Kit Used In U.S. In Early Hours Of Iran Strikes, NORTHCOM Head Says

U.S. Northern Command (NORTHCOM) used a counter small unmanned aircraft system (sUAS) flyaway kit (FAK) in the early hours of the strikes against Iran on Feb. 28, according to Air […]