Andrea's Feed
Oct 21, 2014

Lockheed boosts third quarter profit 5 percent as sales drop again

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the Pentagon’s top supplier, on Tuesday said higher pension income boosted quarterly profit despite a continuing drop in revenues, and foreign sales should reach a target of 20 percent of revenues by year-end.

Chief Financial Officer Bruce Tanner said the company’s net earnings rose 5 percent to $888 million in the quarter, or $2.76 per diluted share, driven higher largely by higher pension income, while revenues fell 2 percent to $11.1 billion.

Oct 21, 2014

S.Korea warns it may cancel BAE systems contract to upgrade F-16 jets

SEOUL/WASHINGTON, Oct 21 (Reuters) – South Korea said it
could cancel a planned $1 billion-plus deal for BAE Systems Plc
to upgrade its F-16 fighter jets and seek a new
different contractor if talks with the British company do not
proceed smoothly.

The contract, which is between the U.S. and South Korean
governments with the work outsourced to BAE, has run into
trouble after the U.S. Air Force added on significant risk
“reserves” to proposed costs, said two U.S.-based sources
familiar with the matter.

Oct 20, 2014

Lockheed says has plan to catch up on F-35 deliveries by year-end

WASHINGTON, Oct 20 (Reuters) – Lockheed Martin Corp
on Monday confirmed that it had delivered just 22 of 36 F-35
fighter jets promised to the U.S. government this year, but had
a plan to complete work on the remaining 14 warplanes over the
next two months.

“We are not giving up on delivering 14 more aircraft this
year,” Lockheed spokesman Mike Rein told Reuters when asked
about delays in deliveries. “We’ll get there.”

Oct 19, 2014

U.S. Marines tap female execs for advice on growing women in ranks

WASHINGTON, Oct 19 (Reuters) – Last spring, U.S. Marine
Corps Commandant General James Amos did not even know who Sheryl
Sandberg was.

Six months later he is good friends with Sandberg, the chief
operating officer of social media company Facebook Inc, a
top advocate for empowering women to take on leadership roles.

Oct 17, 2014

U.S. sees second foreign buyer for V-22 Osprey in six months

WASHINGTON (Reuters) – A second foreign country is expected to announce plans within six months to buy the V-22 Osprey tilt-rotor plane built by Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) and Textron Inc’s (TXT.N: Quote, Profile, Research, Stock Buzz) Bell Helicopter unit, the top general in the U.S. Marine Corps said.

Marine Corps Commandant General James Amos declined to name the country that would join Israel in buying the large aircraft, but said this week that the deal should be announced during the next half year.

Oct 17, 2014

Export-Import Bank backed $1.7 billion in civil aviation deals since 2012

By Andrea Shalal

COATESVILLE Pa. (Reuters) – The embattled U.S. Export-Import Bank on Thursday said it had authorized $1.7 billion in financing to support U.S. exports of helicopters, business jets and agricultural aircraft since fiscal 2012, aiding a sector that was hit hard by the 2008 financial crisis.

Fred Hochberg, president and chairman of the Ex-Im Bank, said the financing had helped companies such as Sikorsky Aircraft, a unit of United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz), pump up their exports by giving their customers access to the same kind of export credit financing offered by their competitors.

Oct 16, 2014

U.S. Ex-Im Bank backed $1.7 bln in civil aviation deals since FY12

, Oct 16 (Reuters) – The embattled U.S.
Export-Import Bank on Thursday said it had authorized $1.7
billion in financing to support U.S. exports of helicopters,
business jets and agricultural aircraft since fiscal 2012,
aiding a sector that was hit hard by the 2008 financial crisis.

Fred Hochberg, president and chairman of the Ex-Im Bank,
said the financing had helped companies such as Sikorsky
Aircraft, a unit of United Technologies Corp, pump up
their exports by giving their customers access to the same kind
of export credit financing offered by their competitors.

Oct 16, 2014

Exclusive: Boeing eyes possible Chinook helicopter sale to Brazil

WASHINGTON (Reuters) – The Brazilian Army has expressed interest in buying a handful of Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) CH-47 Chinook helicopters, the company said on Wednesday, saying that it continued to view Brazil as an important partner for defense and commercial projects.

“We have had some early discussions about the Chinook with the Brazilian Army,” Boeing spokesman Scott Day said, when asked about a potential CH-47 sale to Brazil. Day declined to give any details, but said the potential order was “not a large one.”

Oct 16, 2014

Top U.S. Marine says F-35s July due date still ‘doable’

WASHINGTON (Reuters) – The U.S. Marine Corps said on Wednesday it is sticking to a July 2015 target to declare an initial squadron of 10 new Lockheed Martin Corp F-35 fighter jets ready for combat use, but said it would not be devastated if the date slipped to August.

“It’s too soon to flinch,” outgoing Marine Corps Commandant General James Amos said in an interview at his Pentagon office, when asked if the Marines would miss their target date for declaring an initial operational capability (IOC).

Oct 15, 2014

U.S. lags Europe in weather forecasting, investment needed -Navy

WASHINGTON (Reuters) – A top Navy official called for the U.S. government to develop a better unified weather forecasting model to regain a competitive edge now held by Europe, given the growing threats posed by climate change and rising sea levels.

The U.S. effort deserves a grade of “C,” Rear Admiral Jonathan White, the Navy’s top oceanographer and navigator, told the Reuters Global Climate Change Summit.