Andrea's Feed
Apr 23, 2014

Australia orders 58 F-35 Lockheed Martin stealth fighters

SYDNEY/WASHINGTON (Reuters) – Australia will order 58 more F-35 fighter jets built by Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) for A$12.4 billion ($11.61 billion), Prime Minister Tony Abbott said on Wednesday, a purchase that will raise its air combat power to among the world’s most advanced.

Australia approved the purchase of 14 of the stealth fighters in 2009, and the additional jets will provide the Royal Australian Air Force with enough aircraft to form three operational squadrons and one training squadron.

Apr 23, 2014

Lockheed says costly for Pentagon if it cancels MH-60 helicopters

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) warned on Tuesday that the U.S. Navy’s plan to cancel an order for 29 MH-60 helicopters built by Lockheed and Sikorsky Aircraft would result in large termination fees because they are part of five-year agreements signed in 2012.

Lockheed Chief Financial Officer Bruce Tanner told reporters that work had already begun on cockpits and other equipment for the helicopters, which were to be ordered in fiscal year 2016, and a better option might be to finish building the aircraft and then sell them to allies.

Apr 22, 2014

Australia set to order 58 F-35 Lockheed Martin fighters

SYDNEY/WASHINGTON, April 23 (Reuters) – Australia will
announce plans on Wednesday to order 58 more F-35 fighter jets
built by Lockheed Martin Corp for A$12 billion ($11
billion), sources in Washington and Canberra told Reuters.

Prime Minister Tony Abbott will make the announcement of the
purchase around midday local time in the Australian capital,
Canberra, the sources said.

Apr 22, 2014

Lockheed lifts outlook as profit rises, but revenue falls

WASHINGTON, April 22 (Reuters) – Lockheed Martin Corp
, the Pentagon’s largest supplier, on Tuesday reported a
23 percent jump in net profit in the first quarter and raised
its earnings per share outlook for the full year by 25 cents.

But Lockheed, maker of the F-35 fighter jet, satellites and
coastal warships, said U.S. government budget cuts continued to
depress revenue this year, with sales to the U.S. military
likely to drop by 6.0 percent in 2014 after a 4.0 percent drop
in 2013.

Apr 22, 2014

Lockheed boosts profit 23 percent, lifts 2014 outlook

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the Pentagon’s largest supplier, on Tuesday reported a 23 percent jump in operating profit and earnings per share in the first quarter, and raised its earnings per share outlook for the full year by 25 cents.

But Lockheed, maker of the F-35 fighter jet, satellites and coastal warships, said U.S. government budget cuts continued to depress revenues in 2014, with sales to the U.S. military likely to drop by 6.0 percent in 2014 after a 4.0 percent drop in 2013.

Apr 21, 2014

U.S. agencies back DigitalGlobe bid to sell sharper images

TAMPA/WASHINGTON (Reuters) – The U.S. intelligence community has thrown its support behind a bid by commercial space imagery provider DigitalGlobe Inc to sell higher resolution images from its satellites, the leading U.S. intelligence official said Tuesday.

DigitalGlobe has pressed the government for years to allow it to sell such imagery but U.S. government agencies worried that giving public access to them could undermine the intelligence advantage they have from even higher resolution satellite images.

Apr 17, 2014

Cost to buy F-35 up 2 percent; to operate down 9 percent: Pentagon

WASHINGTON (Reuters) – The Pentagon on Thursday forecast the cost of developing and buying Lockheed Martin Corp’s F-35 fighter jet at $398.6 billion, up 2 percent from last year, but said the projected cost to operate and maintain the jets was down about 9 percent.

The total cost of the F-35 Joint Strike Fighter, the Pentagon’s costliest weapons program, is now seen at $1.42 trillion, down about 6 percent from $1.50 trillion, including research, development, procurement and operations through 2065.

Apr 17, 2014

Cost to buy F-35 up 2 pct; to operate down 9 pct -Pentagon

WASHINGTON, April 17 (Reuters) – The Pentagon on Thursday
forecast the cost of developing and buying Lockheed Martin
Corp’s F-35 fighter jet at $398.6 billion, up 2 percent
from last year, but said the projected cost to operate and
maintain the jets was down about 9 percent.

The total cost of the F-35 Joint Strike Fighter, the
Pentagon’s costliest weapons program, is now seen at $1.42
trillion, down about 6 percent from $1.50 trillion, including
research, development, procurement and operations through 2065.

Apr 17, 2014

Two U.S. arms programs face live-or-die reviews after costs jump

WASHINGTON, April 17 (Reuters) – An unmanned U.S. Navy
helicopter built by Northrop Grumman Corp and a
precision ship-landing system built by Raytheon Co face
mandatory reviews that could lead to their cancellation after
quantity reductions drove unit costs sharply higher in 2013, the
Pentagon announced on Thursday.

Senior defense officials said the cost increases were
largely due to cuts in the numbers of items to be purchased, but
federal law required a careful look at program performance and
other factors.

Apr 17, 2014

Northrop CEO urges Congress to pass cybersecurity legislation

WASHINGTON, April 17 (Reuters) – U.S. weapons maker Northrop
Grumman Corp on Thursday urged U.S. lawmakers to enact
cybersecurity legislation that would limit the liability of U.S.
companies and enable them to take more decisive action to
protect their computer networks.

“We need to move to a place as a country where the legal
framework matches the technology framework, or even gets within
a decade of the technology framework,” Northrop Chief Executive
Wes Bush told Reuters after a speech to the Economic Club.