Andrea's Feed
Apr 23, 2014

Australian F-35 orders will help drive down price -Lockheed

WASHINGTON, April 23 (Reuters) – Australia’s decision to
order 58 more F-35 fighter jets built by Lockheed Martin Corp
by 2023 will help drive down the cost of the stealthy
warplane and strengthen the jet’s presence in Asia, a senior
Lockheed official said on Wednesday.

Steve O’Bryan, Lockheed’s vice president for F-35 business
development, said 10 countries had now committed to buying the
F-35, and Lockheed expected others to follow suit this year.

Apr 23, 2014

Strong U.S. defense firm profits defy regular gloomy warnings

WASHINGTON, April 23 (Reuters) – U.S. arms makers complain
regularly that lower Pentagon spending on ships, jets and other
hardware will hit their earnings, but a string of
better-than-expected results this week show that layoffs and
cost-cutting have kept profits flowing, and growing.

Defense majors Lockheed Martin Corp, General
Dynamics Corp, and Northrop Grumman Corp have all
reported higher profits this week and raised their full-year
forecasts. In response, the Dow Jones index that tracks the 10
biggest aerospace and defense companies rose 2.2
percent on Wednesday.

Apr 23, 2014

Cost-cutting, share buybacks buoy U.S. defense profits

WASHINGTON, April 23 (Reuters) – The biggest U.S. weapons
makers posted higher profits this week and raised their
forecasts for 2014 earnings, sending shares higher despite cuts
in military spending that have weakened revenues.

The Dow Jones index that tracks the 10 biggest aerospace and
defense companies rose 1.75 percent, driven by gains
in shares of Lockheed Martin Corp, General Dynamics Corp
, and Northrop Grumman Corp, which all reported
higher profit and earnings per share this week.

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.