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Business/Financial

UTC Posts Strong Earnings On Meager Sales Growth

DDN

Thursday, October 21st, 2010

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By Calvin Biesecker United Technologies [UTX] yesterday reported strong third quarter earnings on just a slight sales gain as ongoing restructuring initiatives to shed costs led to record operating segment margin. Net income increased 13 percent to $1.2 billion, $1.30 earnings per share (EPS), from $1.1 billion ($1.14 EPS) a year ago, topping consensus estimates by two cents. Sales edged up a percent to $13.5 billion from $13.4 billion, as a three percent increase in organic growth was partially offset…

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

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 […]