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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

Baldwin Concerned With Army’s JLTV ‘Mismanagement,’ Seeks Support For Marines’ Procurement Plans

Sen. Tammy Baldwin (D-Wis.) has raised concerns with the “Army’s mismanagement” of the Joint Light Tactical Vehicle (JLTV) program, and is seeking assurance that the Marine Corps can be supported […]

Congress

SASC Cites Concern With Army’s sUAS Approach, Seeks Info On Plans To Scale Fielding

Senate defense authorizers are seeking more info from the Army on its plans for scaling and deploying small drone capabilities citing concern with the service’s current “fragmented and insufficient” approach. […]

SASC Bill Would Raise Amphib Requirement To 33 Ships

The Senate Armed Services Committee’s (SASC) fiscal year 2027 defense policy bill adds new provisions that would raise the Navy and Marine Corps’ minimum requirement for amphibious warships and extend […]

Army

Army Plans To Initiate ISV-Heavy Competition Later This Year, Official Says

The Army is planning to initiate its competition to build the Infantry Squad Vehicle (ISV)-Heavy in the fourth quarter of this year, a senior acquisition official has said. Jesse Tolleson, […]