:

Business/Financial

Orbital ATK Posts Strong Second Quarter Results

By Cal Biesecker

Thursday, August 6th, 2015

SHARE:

Orbital ATK Posts Strong Second Quarter Results

An Orbital ATK Antares launch vehicle lifts off from Wallops Island, Va. Photo: Orbital ATK

Orbital ATK [OA] on Thursday reported strong second quarter financial results, driven by its rocket and satellite businesses, while the company increased financial guidance for the year.Sales increased 7 percent to just over $1.1 billion from just under $1.1 billion a year ago while adjusted net income rose 16 percent to $76.6 million, $1.28 earnings per share (EPS), from $65.9 million ($1.10 EPS), well above consensus estimates of $1.02 EPS. Free cash flow was a $5.5 million outflow.The strong results…

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

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, […]