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Lockheed Martin CEO Stevens plans to step down

Posted April 26, 2012 by

Lockheed Martin said April 26 that CEO Bob Stevens plans to step down and that its president and chief operating officer, Chris Kubasik, will take on the role at the start of the new year. The announcement came as the aerospace and defense contractor reports its first-quarter earnings climbed 26 percent on a 6 percent…

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Northrop Grumman to upgrade Fire Scout unmanned helicopter for U.S. Navy

Posted April 26, 2012 by

The U.S. Navy has selected Northrop Grumman to produce the next-generation Fire Scout unmanned helicopter using the Bell 407 airframe. The new variant provides greater range, endurance and payload capacity to ship commander’s intelligence-gathering efforts. According to a U.S. Department of Defense news release on contract awards released April 23, the company will produce a…

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L-3 Communications first quarter beats street; shares surge

Posted April 26, 2012 by

L-3 Communications Holdings Inc.’s net income edged lower in the first quarter as governments spent less on its services. It was still good enough to beat Wall Street expectations, however, and the defense contractor boosted its full-year earnings guidance as well, sending shares up 6 percent April 26. L-3′s net income for the three months…

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Northrop Grumman wins Air Force electronic attack pod upgrade program

Posted April 26, 2012 by

The U.S. Air Force has awarded Northrop Grumman a $52.8 million, 27-month engineering and manufacturing development contract to upgrade its electronic attack pods. The program has a potential value of $480 million including EMD, a low-rate initial production phase and five production options. “We are honored that the U.S. Air Force selected Northrop Grumman to…

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Raytheon first quarter profit jumps, lifts 2012 outlook

Posted April 26, 2012 by

Raytheon posted a 17 percent jump in the first-quarter profit April 26 and the defense contractor boosted its full-year outlook with sales for missile, intelligence and information systems on the rise. The big jump in comparable net income was partially due to the charges that the company was saddled with during the same period last…

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Goodrich first quarter profit falls, plane parts sales rise

Posted April 26, 2012 by

Goodrich Corp., which supplies components for aircraft makers, said April 26 that first-quarter profit fell 4 percent on higher taxes and costs for its sale to United Technologies Corp. Sales of original equipment for large commercial aircraft rose 27 percent, which the company credited to increased airplane production by Boeing and Airbus. It said a…

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Boeing first quarter earnings, revenue rise on aircraft sales

Posted April 25, 2012 by

Boeing says its first-quarter earnings jumped 58 percent on higher revenue from sales of commercial airplanes, helping it overcome slow growth in its defense business. The company raised its 2012 profit forecast. Boeing said April 25 that it earned $923 million, or $1.22 per share, compared with $586 million, or 78 cents per share, a…

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Sierra Nevada completes wind tunnel testing of Dream Chaser

Posted April 25, 2012 by

Sierra Nevada Corporation Space Systems has successfully completed wind tunnel testing of a scale model of the Dream Chaser(R) orbital crew vehicle in the Oran W. Nicks Low Speed Wind Tunnel at Texas A&M University in College Station, Texas. Aerodynamic data generated from this testing, coupled with data from computer simulations, will define the characteristics…

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Boeing delivers first Lufthansa 747-8 Intercontinental

Posted April 25, 2012 by

Boeing has delivered the first 747-8 Intercontinental passenger airliner to Deutsche Lufthansa AG, beginning a new era for the world’s most recognized airplane, and beginning a new era of increased efficiency, stronger environmental performance and greater enjoyment for Lufthansa and its passengers. “Lufthansa and Boeing have a long and proud history of working together to…

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Northrop Grumman first quarter profit falls 4.5 percent

Posted April 25, 2012 by

Northrop Grumman said April 25 its first-quarter profit fell 4.5 percent, as drops in U.S. defense spending reduced sales at its major businesses. The Falls Church, Va.,-based defense contractor earned $506 million, or $1.96 per share, down from $530 million, or $1.79 per share, in the same quarter last year. The year-ago period was boosted…

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