Several major defense contractors have reported earnings for the last quarter and here is a roundup: Lockheed Martin — 2008 revenue of $3.22 billion on sales of $42.73 billion (Associated Press) Boeing — Revenue of $12.7 billion on sales of $66.4 billion. (Boeing) Only $32 billion are defense related sales. (Los Angeles Times) Northrop Grumman — Earnings of $(1.28 billion)...
Government Industry Archive
February 2009
The Congressional Research Service (CRS) estimates that to meet the Pentagon’s baseline plan for funding that up to $43 billion more a year will be required in the Future Years Defense Plan (FYDP). Aviation Week reports on a hearing held by the House Budget Committee where the CRS said there seemed to be a gap between planned funding and needs. While the Defense Budget is appropriated...
Back last year we wrote about how Microsoft was competing with Deltek and other companies to develop and sell Enterprise Resource Planning (ERP) software. Now word comes that Progeny Systems Corp has purchased Microsoft’s Dynamics NAV 2009 program to replace its existing financial and production management software. These two prior separate systems were made by Deltek and ManEx...
The majority of the big defense contractors that have reported had strong quarters. Boeing was the only major one so far to report a loss. Northrop Grumman would have had a profit except for acquisition write downs. L-3 did record business and now Goodrich reports strong numbers. CNNMoney.com writes that for 2008 income was up over twenty-four percent from 2007. The company, like so many,...
On January 22nd Lockheed Martin reported its fourth quarter results. Bloggingstocks.com has an article here about it. The company came in at $2.05 a share well over the $1.92 projected. Like many companies it is saying 2009 could be flat particularly due to pensions. The company had earnings of over $800 million for the quarter on revenue of over $11 billion the Associated Press reported....
The Associated Press reports that the U.S. Army awarded ManTech as a subcontractor to VSE a contract to support MRAP vehicles. The one year contract with another year’s option is worth over $350 million. The MRAP vehicles have rapidly come into service over the last three years as a reaction to the many IEDs in Iraq and Afghanistan. Congress directed fairly rapid acquisition of these...
As we wrote previously Northrop Grumman had warned they would probably take a loss for the last quarter due to write downs on previous acquisitions. The Los Angeles Times reports that the company had a loss for the quarter. This is the first quarterly loss in over seven years. The company did have increased sales to move into second place behind Lockheed Martin and ahead of Boeing in...
Sharps Compliance announced that it had received a contract from an unidentified part of the Federal government. The press release about this award is at PRNewswire.com. The five year contract has a potential value of $40 million with an initial award of close to $29 million. Sharp Compliance provides medical waste disposal services for non-traditional health care facilities. Their Sharps...
Universal Detection Technology (UNDT) was added by the GSA to its Multiple Awards Schedule program. CNNMoney.com has the press release. Universal Detection Technology manufactures a variety of sensors and devices to detect biological based weapons of mass destruction. By being added to the GSA schedule it makes it easier for Federal, State and local governments to invest in UNDT’s...
Like most incoming new administrations the Obama one has decided to delay the defense budget submission to Congress. The defense industry is waiting with somewhat baited breath to see what the new budget will contain. While Democratic administrations are historically considered poor supporters of the budget Mr. Obama has inherited active combat operations in Afghanistan and a large troop...
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