Metal Storm continues to market in the US
Filed under: Australia, Industry Analysis, Metal Storm, Promotions, S&T, development program
The Army of the United States Association (AUSA) held their national convention last week. One of the key parts of this is exhibits by a large number of defense contractors, big and little. Metal Storm the Australian company that is developing rapid fire electronic gun systems attended. They have received some contracts with the US Military to work on their systems. Metal Storm uses multiple barrel system with a stack of ammunition in them. By firing electronically they can launch all of the ready rounds very quickly. Rates of fire for their larger systems are very impressive and their is a lot of potential for them. No nation yet has committed a large sum to buying these systems, which range in size from 9mm to 40mm; although it is probably scalable to larger rounds.
See the press release at MarketWatch.com.
Here is a link to the demonstration video they used at AUSA.
CACI reports
Filed under: CACI, Department of Defense, Earnings, IT, S&T, SETA, logistics
In the continuing trend of large defense contractors resulting improved results, CACI had a 13% growth in earnings compared to the equivalent quarter a year ago. Forbes.com reports. CACI is a leading provider of services to the US intelligence community, especially the Defense side. They also provide other services to the US government such as IT and logistics management. Revenue growth was even more impressive, surging over 20% on large intelligence contracts.
For more see the story at Forbes.com.
ManTech reports well
ManTech is a second tier defense contractor that provides services and support to the US military. For the quarter ending in June ManTech reported income of $21.9 M. See a press release here. This was a substantial improvement over the same quarter in 2007. Much of the increase came from large IT support contracts for various services. There was also substantial business with classified contracts. Many of the defense contractors that have reported to date have done well over the last quarter.
Raytheon reports
Raytheon had higher income this quarter compared, but had a decline in net. See a story release here. Raytheon continues the trend of defense contractors reporting increases in sales and income but not necessarily profits. Raytheon did predict that 2008 will be a good year for the company with a 15% increase in revenue.
LMT reports earnings
Lockheed Martin continued the string of defense contractors reporting good earnings as the rest of the economy struggles. See a press release here. Lockheed had a 13% increase in profit over the last year with a solid increase in earnings. The company also is starting to sound cautious about the expected downturn if the Democrats win the White House in November. Even if the defense budget is cut dramatically it will take a few years for the effects to be felt within the suppliers.
Continued conflict good for US defense contractors
Filed under: Congress, Earnings, Federal Budget Process, IT, Military Aviation, Satellites, development program, logistics, missile defense, production program
CNNMoney has a preview of the upcoming earnings report for a variety of US defense contractors. See this for more. Not surprisingly the outlook is good. The US defense budget remains large and will probably not see any downturn until 2010 at the earliest depending on the US election. Rockwell Collins reported yesterday and they came in with 24% improvement over last quarter. See the press release here.
SAIC does well on Iraq and Afghanistan
SAIC reported that their first quarter profits were up 25% over last year. See a story here. The company chose to highlight there contracts providing support to the various MRAPs deployed to Afghanistan and Iraq as part of the reason results were so good. Of interest is that the CEO, Mr. Dahlberg, complained of the fact that they cannot generate commercial growth to their satisfaction. This is often true of various large defense contractors. If there are significant decreases in the US defense budget in the future these companies may find it hard to sustain growth and profitability.
Army buys more tactical vehicles
Filed under: BAE Systems, Contract Awards, U.S. Army, logistics, production program
The US Army awarded BAE a $1.6 B contract to buy 10,000 medium tactical vehicles. See a story here. The contract if all options are exercised could be worth over $2.0 B. The contract will be for three years base, and it makes BAE one of the top ten defense contractors selling to the US military now. This has been done through judicial acquisitions and expansion in the US, as well as some successful joint ventures.
Various suitors view Harris for takeover
Filed under: Acquisitions, Harris Corporation, IT, production program
This article discusses the situation of Harris Corporation who makes radios for the US military and various civilian applications. There business has boomed over the last few years and their size and contracts have made them a target of the larger US and European defense contractors. Unfortunately the good performance of the company has driven the stock to an all time high making an acquisition very expensive. This is especially true of concerns that with the change in US administrations that there will be a falling off in the US Defense budget. Another concern is that Harris does work on several classified programs making it difficult for foreign companies, like EADS or BAE, to purchase them. Even if it wasn’t in such a time of Congress looking askance at these kinds of acquisitions, the security requirements might be too hard.
Raytheon gains on missiles
Raytheon posted a solid quarter with profits rising 15%. See the press release here. Much of this was due to the work on PATRIOT and other missile systems, including significant foreign orders. This means that the first two large defense contractors to report, Boeing and Raytheon, have done very well recently. This should continue as long as the defense budgets remain large which can be expected for at least the next two years.
Some Analysis of SAIC’s Common Stock
As a recent GAO report highlighted the Department of Defense invests a great deal in Science, Engineering, Technical and Analysis (SETA) contracts. These contracts, and contractors, are most known as working with the military acquisition offices to provide necessary support. There are also SETA contracts with IT, testing, engineering, safety and pretty much any area that the DoD and Services are involved in. It is a large business employing thousands.
Two rivals team together for missile contract
Filed under: Boeing, Department of Defense, General Dynamics, Lockheed Martin, Northrop Grumman Corp., Raytheon, development program
Two of America’s largest defense contractors will join together to pursue the next generation air launched missile. Raytheon and Boeing announced that they signed a teaming agreement to prepare for the Joint Air to Ground Munition (JAGM) development program. See the press release here. The JAGM will replace Hellfire and Maverick missiles for launch from both fixed wing aircraft and helicopters. JAGM is at the early stages of its life and was started after the failure of the Joint Common Missile (JCM) program. See this for more on that. There is certainly no denying that the aging Hellfire and Maverick need replacing, although the Hellfire especially has seen a lot of use from OH-58D, AH-64 and Predator UAV in Afghanistan and Iraq. If Boeing and Raytheon team that leaves Lockheed Martin, Northrop Grumman and General Dynamics as the only other US companies that might bid on such a program.
Army gives SAIC contract for technical support
SAIC is one of the top ten defense contractors and provides engineering and technical services, not hardware. This press release discusses a $98 M contract from the Army to provide technical and analytical support to the US Army Medical Research and Material Command. This is a good example of such a contract. Most of the large military acquisition and support commands have these type of contracts. There are literally hundreds of companies large and small that provide that kind of work.
-
Search This Site
Custom Search -
FREE Business Downloads
-
Latest Defense News
- Sineva missile test shows Russia’s growing power
- Russia seeks world lead in helicopter production
- EU proposals clear hurdle towards open defense market
- Somali pirates boast huge weapons arsenal
- Analysis: Israel - in search for a Winning Strategy
- DSC contracted for Guardian demonstration
- Navy contracts to improve Arleigh power
- ViaSat awarded SPAWAR deal for MIDS LVT
- Army contracts for commercial trucks
- GD awarded MK19 grenade machine-gun deal
- Contracts for October 10, 2008
- Navy contracts for MIPS upgrades
- Russia fudges pledge not to sell S-300s to Iran
- U.S. needs frigates, LCS to fight modern pirates
- Russia sends battle squadron to the Mediterranean
- American Ordnance to run Army facilities
- Frost & Sullivan honor BioSentry tech
- Defense Intelligence Agency contracts SAIC
- LM to lead M299 modernization team
- General Dynamics contracted for ammunition
- EF Johnson to support Navy’s virtual fence
- Contracts for October 09, 2008
- Major powers need to focus naval power to beat pirates
- Russia trains to fight NATO in giant exercises
- Cyberwar threat to U.S. grows worse
- Goodrich to support Apache VUIT-2 program
- SPADAC to develop terrorism mapping tech
- BAE contracted for armored vehicles
- BAE unveils new Caiman Light MRAP
- DRS contracts Crane WMS for tracking tech
- QinetiQ to support SPAWAR C4ISR
- France pushes to boost Europe’s military strength
- Dependence on oil shapes 21st century military power
- Contracts for October 08, 2008
- Analysis: Venezuela seeks military power
- India puts Russia ahead of U.S. for arms imports
- ATI armor selected for Army contract
- Marines modify deal with Force Protection
- Army awards deal for armored buses
- Implant Sciences awarded development deal
- AS&E receives order for Z Backscatter vans
- Milliken fabric chosen by Army
- Contracts for October 07, 2008
- Contracts for October 07, 2008
- India, Russia plan new air-launched cruise missile
- Somali pirates boast huge weapons arsenal
- Thompson Files: Don’t scrap the TSAT
- ATK launches new PAWS technology
- NASSCO lays keel on Navy cargo ship
- Gryphon awarded LCAC contract with Navy
- New Raytheon sensor tech on schedule
- Dash MRAP to reach full production
- Homeland Security Dept. contracts TMS
- Contracts for October 06, 2008
- Russia may raise military budgets by 50 percent
- Russia’s sub fleet expansion faces problems
- Israel’s Mossad Role in Combatting Rough Nukes
- Contracts for October 03, 2008
- Defense Dept. contracts for ID technology
- Rolls-Royce to provide engines for T-45
- New ship communication successfully tested
- Customs contracts for WidePoint’s MTEM
- iRobot to develop Warrior 700 for Army
- TACOM contracts for crew protection kits
- Outside View: Bulava lessons — Part 2
- Russia, China boost Iran’s ICBM program
- Russia’s Iskander is ideal weapon to hit BMD bases
- Israel Requests up to 75 F-35A/B Lightning II Stealth Joint Strike Fighters from the US
- Acquiring Better Fighting Capability for British Infantry
- Improved Armor & IED Protection for British Army Units
- Tethered, Remotely Controlled Sensors to Improve Force Protection
- Contracts for October 02, 2008
- Tu-160s to fire cruise missiles in huge exercise
- Lockheed Martin honored by Defense Dept.
- Navy modifies attack submarines deal
- AST launches new surveillance technology
get your job site
at simplyhired.com