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Business/Financial

Huntington Ingalls Reports Second Quarter Profits

Defense Daily Staff

Friday, August 12th, 2011

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Huntington Ingalls Industries [HII], the largest builder of Navy surface ships, yesterday reported earnings of $40 million for the second quarter of 2011 after suffering losses in the same period last year. The profit margin of 5.8 percent came after a 1.2 percent decline--or an $11 million loss--in the April-June quarter of 2010, the company reported. Revenues, however, dropped by 2.9 percent from $1.61 billion to $1.56 billion. Huntingon Ingalls attributed the fall to lower sales on the DDG-51 Arleigh Burke-class…

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]

Congress

Senate Appropriators Concerned With DoD’s Reconciliation Plan For Top FY ‘27 Priorities, Aide Says

Senate defense appropriators have concerns with the Pentagon’s decision to include key fiscal year 2027 funding priorities, such as critical munitions and drones production, among its request for $350 billion […]