Aerospace Group:

Business/Financial

Exelis Posts Solid First Quarter Earnings As Acquisition By Harris Nears

By Cal Biesecker

Wednesday, May 6th, 2015

SHARE:

Exelis Posts Solid First Quarter Earnings As Acquisition By Harris Nears

Exelis' first quarter sales benefited from higher revenue on environ mental sensing satellite payloads. Image: Exelis

In likely its final earnings release ahead of its pending acquisition by Harris Corp. [HRS] next month, Exelis [XLS] on Wednesday reported solid first quarter financial results largely driven by strength in its electronic warfare business segment.Net income increased 13 percent to $59 million, 31 cents earnings per share (EPS), from $52 million (27 cents EPS) a year ago, beating analysts’ estimates by four cents per share. Excluding discontinued operations that contributed $13 million (7 cents EPS) to the bottom…

Congress

Trump Wants Second Reconciliation Bill On His Desk By June 1

President Donald Trump on Wednesday called on Congress to pass and send a second reconciliation bill to his desk by June 1. The deadline follows congressional Republicans’ backing a pursuit […]

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 […]