General Dynamics (GD) reported their first quarter earnings. Like Lockheed, Raytheon and Northrop Grumman this large defense contractor had a good quarter. Earnings per share were up twelve cents when compared to 2008. So far only Boeing has reported a net loss for the quarter, although Lockheed was helped by the buy back of its shares. Boeing has been hurt by the downturn in the civil...
Government Industry Archive
April 2009
We had written in the past about the protest of awarding to Lockheed the Mission Support Contract at the Department of Energy’s Hanford site. The protest was settled in December, 2008 with an agreement by the DOE to address issues raised by the protest. The Tri City Herald reports that this part is complete and Lockheed, who won the contract, originally will begin to take over the work...
There have been several different people promoting the idea that the U.S. Defense Department just go ahead and give a contract for new aerial tankers to both Boeing and the Northrop Grumman EADS team. We have discussed in the past why while there might be cost savings in procuring the aircraft there would be significant cost related to supporting the dual fleet. Secretary Gates did not endorse...
Updated on 4/30/09 to make clear that more job losses are contingent on the status of the VH-71 program. Lockheed announced today that they are laying off 225 people in their Owego, NY facility with the possibility of at least 575 more to come. This will be 20% of their work force. The Owego facility had received a great deal of support from former Senator, now Secretary of State, Hillary...
Arizona, like many other states, is struggling on how they will implement parts of the “Stimulus Bill” passed by Congress this year. The bill has requirements on the states to track how the money is being spent, job creation and so on. The Arizona Capital Times has an article discussing the result of a Federal audit of that state’s implementation so far. None of the issues...
In January PlanetSpace protested the two commercial contracts awarded by NASA to support the International Space Station (ISS). On Friday the Government Accountability Office (GAO) denied the protest. PlanetSpace can ask the agency to reconsider but that is not a common event. NASA had awarded Space Exploration Technologies, SpaceX, and Orbital Sciences contracts to develop and launch resupply...
President Obama has submitted a supplemental funding bill for FY09 to continue operations in Afghanistan. This is in line with how the fighting in Iraq and Afghanistan was funded during the Bush Presidency. One of the reasons this is done as it is not always possible when doing the full budget over a year in advance to project expenditures and requirements. Congress must appropriate very...
Like the Obama administration’s proposed next budget England’s Labour government plans to slowly begin to reduce the annual deficits with a goal of cutting borrowing by forty-four percent in 2013. Prime Minister Gordon Brown of course is leaving that, like Obama, to the next administration with a hope that it will continue to be a Labour Prime Minister. The current polls are not...
In the latest large contractor to post first quarter results Raytheon and Northrop Grumman announced that profits and earnings were up compared to a year ago. Boeing and Lockheed have also announced mixed results so far. Raytheon saw profits up fifteen percent and earnings per share over twenty according to RTTNews. Raytheon was buoyed by several missile programs such as Patriot, Standard...
Canada’s Government is planning on using a multi-billion contract to build a centralized shared network to handle common business applications for the entire government. Departments would contract with the Public Works department to use the Government Enterprise Networks Services (GENS). The goal is to reduce duplication and costs across the government agencies. As The Montreal Gazette...
- First Shoe Drops For EADS On A400M
- New Military Contracts Limit Losses For Oshkosh
- Second TRICARE Protest Sustained For Health Net Raises Issues With Whole Process
- Second JSF Engine From Rolls-Royce And GE Facing Crisis Of Confidence
- Good News For Boeing In 2010 As More C-17 Transports Will Be Ordered
- BAE Systems Leads To Pentagon Complaints On Protests
- General Dynamics Positive For 2009
- U.S. TRICARE Contract Protest By Humana Upheld
- QinetiQ CEO Love Removed As Effects Of Nimrod Crash And Performance Analyzed
- KBR Inc. Leads Government Contractors In Return On Investment
- Boeing Heading Down To Dixie
- General Dynamics Wins Contract To Revive Land Warrior
- Joint Strike Fighter Budgetary Machinations Affect Lockheed, GE, Rolls-Royce and Pratt & Whitney
- India's Defense Upgrades Struggle But Continue With Boeing Bidding On Helicopters
- Lockheed Continues Layoffs As Restructuring Continues
- General Dynamics To Build Extra Submarine Thanks To Congress
- EADS, Northrop And Boeing Gird For Third Tanker Try
- Defense Job Cuts Begin To Add Up
- India Moves Forward on New Fighter
- Prison Industry Continues Its Shakeup
- Government Failing Small Business?
- Department of Defense Investing in Simulations for Mass Epidemic Training
- Health Costs Squeezing DoD Budgets
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Industry Transcripts by Seeking Alpha
- Northrop Grumman Corporation. Q3 2009 Earnings Call Transcript
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