Monday, May 11, 2009

Boeing Reports First-Quarter Earnings

Boeing Reports First-Quarter Earnings

First-quarter net income was $0.6 billion with earnings per share of $0.86 which includes the previously announced $0.38 per share reduction from revised twin-aisle commercial airplane production rates and lower price escalation forecasts

Revenue rose 3 percent to $16.5 billion on higher commercial airplane deliveries and higher volume in defense

Operating cash flow was $0.2 billion

Backlog at $339 billion – nearly five times current annual revenues
2009 earnings outlook reduced to reflect changes in commercial market; outlook for Integrated Defense Systems is reaffirmed on solid execution

CHICAGO, April 22, 2009 --


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U.S. Army Awards General Dynamics $35 Million for Modular Artillery Charge System

U.S. Army Awards General Dynamics $35 Million for Modular Artillery
Charge System

Date: 4/21/2009 1:00:00 PM

CHARLOTTE, N.C., April 21 /PRNewswire-FirstCall/ -- The U.S. Army Joint
Munitions and Lethality Contracting Center awarded General Dynamics Armament and Technical Products a multi-year contract for the Load, Assemble and Pack of the M231 and M232A1 Modular Artillery Charge System (MACS). The value of the order is approximately $35 million, with deliveries beginning this fall. General Dynamics Armament and Technical Products is a business unit of General Dynamics (NYSE: GD).

The MACS provides propelling charges with combustible cartridge cases
for 155mm artillery. The charges are compatible with new and existing howitzer systems and offer enhanced precision, increased range and a significant reduction in logistics. The M231 system is used primarily for training, and the M232A1 is designed for use with service rounds.

"The MACS program is a valuable munitions system for U.S. warfighters
because it eliminates the need to measure artillery powder and dispose of unused charges," said Russ Klein, vice president and general manager of weapon systems for General Dynamics Armament and Technical Products. "Over the past nine years, our Camden workforce has produced more than four million highly reliable charges, and we are proud to provide the necessary tools for success on the battlefield."

Production work will be performed at General Dynamics' facility in Camden, Ark., with program support taking place at the company's Burlington, Vt., facility.

General Dynamics Armament and Technical Products, located in Charlotte, N.C., provides a broad range of system solutions for military and commercial applications. The company designs, develops and produces high-performance weapon and armament systems, defensive armor, countermeasure systems, aerospace composite solutions, and is a leading U.S. producer of biological and chemical detection systems. More information about General Dynamics Armament and Technical Products can be found on the Internet at www.gdatp.com.

General Dynamics, headquartered in Falls Church, Va., employs
approximately 92,300 people worldwide. The company is a market leader in
business aviation; land and expeditionary combat systems, armaments and
munitions; shipbuilding and marine systems; and information systems and
technologies.


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Tuesday, April 21, 2009

Boeing Assembles First Set of 747-8 Wings

Boeing Assembles First Set of 747-8 Wings

EVERETT, Wash., April 21, 2009 -- The Boeing Company [NYSE: BA] has completed major assembly of the first set of wings for the 747-8 Freighter. The new 135-foot 3-inch (41.2 m) wings incorporate the latest aerodynamic technologies to fly farther and more efficiently. The advanced airfoil provides improved overall performance and greater fuel capacity.

The Boeing 747-8 Freighter and Intercontinental are the new high-capacity 747s that offer airlines the lowest operating costs and best economics of any large passenger or freighter airplane, while providing enhanced environmental performance.


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General Dynamics Awarded $56 Million to Support Defense Information Systems Agency

General Dynamics Awarded $56 Million to Support Defense Information Systems Agency

Date: 4/21/2009 10:00:00 AM

FAIRFAX, Va., April 21 /PRNewswire-FirstCall/ -- General Dynamics
Information Technology, a business unit of General Dynamics (NYSE: GD), has been awarded a five-year, $56 million contract to provide service design, transition and operations support to the Defense Information Systems Agency's (DISA) Multi-National Information Sharing Delivery, Transition and Operation (MNIS DTO) program. General Dynamics was awarded the contract as a subcontractor to Raytheon Company, Waltham, Mass., under the ENCORE II contract.

Under the contract, General Dynamics will support the MNIS DTO program
by providing engineering services, technical support, assistance, requirements analysis and assessments to the globally deployed Combined Enterprise Regional Information Exchange (CENTRIX) System coalition network. General Dynamics will test and integrate commercial and government off-the-shelf hardware and support other necessary requirements for the program. General Dynamics will also assist in the design, building and deployment of the CENTRIX Cross Enclave Requirement (CCER).

DISA's MNIS DTO/CCER program will allow for a consolidated Department of
Defense approach to develop coalition information sharing to ensure
multinational command and control interoperability. This program will
implement a single secure multinational solution that will enable seamless sharing of information with multiple communities of interest and reduce the number of coalition networks.

"General Dynamics will deliver superior technical expertise to provide
reliable solutions that facilitate information sharing among Department of Defense components and its strategic foreign partners," said Tom Kirchmaier, senior vice president of General Dynamics Information Technology's Intelligence Solutions Division. "General Dynamics is committed to its role in supporting joint warfighting operations and multinational information sharing environments."

As a trusted systems integrator for more than 50 years, General Dynamics
Information Technology provides information technology (IT), systems
engineering and professional services to customers in the defense,
intelligence, homeland security, federal civilian government and commercial sectors. With approximately 15,000 professionals worldwide, the company manages large-scale, mission-critical IT programs delivering IT services and enterprise solutions. More information about General Dynamics Information Technology is available at www.gdit.com.

General Dynamics, headquartered in Falls Church, Va., employs approximately 92,300 people worldwide. The company is a market leader in
business aviation; land and expeditionary combat systems, armaments and
munitions; shipbuilding and marine systems; and information systems and
technologies.


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Raytheon Wins Program For Detection of Land Mines and Tunnels

Raytheon Wins Program For Detection of Land Mines and Tunnels

News Release Issued: April 21, 2009 10:00 AM EDT

EL SEGUNDO, Calif., April 21, 2009 /PRNewswire/ -- Raytheon Company has received a $19 million contract from the Defense Advanced Research Projects Agency for development and demonstration of technology to detect and locate buried land mines and tunnels.

In Raytheon's plan, a laser radar vibration sensor, or ladar vibrometer, would reveal hidden targets by measuring ground-surface vibrations and use electronic instructions for calculation and processing known as algorithms to interpret the information. The technology demonstrator would integrate the vibrometer with acoustic and seismic sources for field-testing on a moving vehicle.

Nick Uros, vice president for Advanced Concepts and Technology, listed the following examples of advanced technology Raytheon will employ on the Seismic and Acoustic Vibration Imaging program:

A high-sensitivity ladar vibrometer with multiple parallel channels yielding 600 simultaneous pixels for broad area coverage.
Initial military use of Raytheon's Morphable Networked Micro-architecture processor, the world's first computer whose architecture can adopt different forms depending on the application.
Advanced algorithms developed for the vibrometer while compensating for vehicle, structural and acoustic vibration.
"We are delighted with the opportunity to build and test the demonstrator," Uros said. "This will provide the first capability of real-time acoustic and seismic detection on a mobile platform, with significant improvement in detection stand-off range."

Raytheon Company , with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

Raytheon Awarded $23.5 Million Risk Reduction Contract for Next-Generation GPS Ground Control Segment

Raytheon Awarded $23.5 Million Risk Reduction Contract for Next-Generation GPS Ground Control Segment

News Release Issued: April 21, 2009 9:00 AM EDT

On-time and low-risk delivery is vital to program's success

AURORA, Colo., April 21, 2009 /PRNewswire/ -- Raytheon Company received a contract extension to perform additional risk-reduction activities for the U.S. Air Force's next-generation Global Positioning System Operational Ground Control Segment, or GPS OCX. Raytheon will identify and mitigate program risk to create a roadmap to keep the program on budget and on schedule.

"We are working with our customer to continue to reduce program risk to ensure that we have the lowest-risk program going forward," said Bob Canty, Raytheon GPS OCX vice president and program manager. "What's critically important on this program is to be able to deliver our team's commitments fully and on-time."

In completing all major program milestone requirements on or ahead of schedule, the Raytheon GPS OCX team is poised for success. The team expects a final request for proposal in the next few months.

"The Raytheon team has continued to demonstrate its commitment to timely delivery by achieving all objectives on time and within budget, and we will continue that into our risk-reduction activities," Canty said.

The original contract was awarded by the Air Force Space and Missile Systems Center, Los Angeles Air Force Base, in November 2007 to produce the new control segment for current and future GPS systems.

The Raytheon team includes ITT, The Boeing Company, Infinity Systems Engineering, Jet Propulsion Laboratory, SRI International and Braxton Technologies.

Raytheon Intelligence and Information Systems is a leading provider of intelligence and information solutions, specializing in ground processing, unmanned ground systems, cybersecurity operations, homeland security and other markets to resolve the most complex problems for customers worldwide. IIS had 2008 revenues of $3.1 billion and employs more than 9,000 engineering and technical professionals worldwide.

Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.


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SUPACAT AND BABCOCK JOIN FORCES TO DELIVER £74 MILLION MoD CONTRACT

SUPACAT AND BABCOCK JOIN FORCES TO DELIVER £74 MILLION MoD CONTRACT
April 21st, 2009

Supacat Ltd, the designer of the widely acclaimed ‘Jackal’ weapons-mounted 4x4 patrol vehicle and Babcock the leading engineering support specialists have formed an industry alliance to deliver around 110 Jackal 2 (the enhanced, latest iteration of the original Jackal design), and more than 70 of the new 6x6 ‘Coyote’ Tactical Support Vehicle (Light) (TSV(L)). Supacat as the vehicle designer has been awarded the prime contract supported by Babcock as the vehicle manufacturer for whom the contract is worth around £55 million.

This contract is in response to the MoD’s latest Urgent Operational Requirement (UOR) and is a part of the £700 million Protected Mobility Package announced by the MoD late last year. The vast majority of both vehicle types are scheduled for delivery in 2009 to support operations in Afghanistan.

Within the alliance, Supacat, as the design authority will be responsible for design, development, prototyping, integration and overall programme management. Babcock will take responsibility for detailed production planning, purchasing and manufacture at their Devonport dockyard facility. A single project office, located at Dunkeswell in Devon, will provide overall control.

The alliance draws on the key strengths, resources and expertise of each party and combines the best of both. It is underpinned by a commercial construct that sees all costs and risks shared, fees divided equitably for optimised risk and reward management and alignment of both parties to common project objectives. It embodies the true meaning of an alliance as a co-operative relationship between key contractors on a project working together to deliver significant performance improvements and enhanced business results.

The combined team of the MoD and contractors have very recently been honoured with two acquisition awards from the Minister for Defence Equipment and Support, Quentin Davies, for the successful delivery of the Jackal 1 UOR programme. The formation of the alliance provides an opportunity to build on that success and work closely with the MoD’s Protected Mobility Team, continuing the already established close and open partnering relationship, with the Supacat-Babcock Alliance taking on the role of ‘provider’ and the MoD as ‘decider’.

Nick Ames, Managing Director, Supacat is delighted, “This alliance will help to ensure that our Armed Forces receive the best possible equipment within the shortest possible timescale. More importantly, it will both enhance their operational effectiveness and their protection. Also, the incorporation of the design authority, Supacat, within the alliance will ensure that in future the product will be continually improved and updated. This means that our Armed Forces will always have access to the latest equipment upgrades for their vehicles without avoidable time delays. We are extremely pleased that we can help in this way.”

Roger Gillespie, Babcock’s Equipment Solutions Managing Director, echoes this view and stated, “We each bring key strengths to the table; this alliance combines these to create a strong partnership with the capability to deliver maximum productivity and optimum quality, performance and cost-effectiveness to the MoD. We have previously worked closely with Supacat in delivering over 200 Jackals to the MoD, and this contract will further demonstrate that this method of design, production and delivery is the best for the MoD’s needs.”

- ENDS -

About the Supacat/Babcock Alliance

The alliance reflects the growing move towards industrial partnerships and collaboration in the defence sector, and also builds on the close MoD/industry partnering that has been behind the success of the first Jackal vehicles, built and delivered to demanding time schedules during 2008. As such it echoes the ‘central partnering/creation of alliances’ theme of the Defence Industrial Strategy (DIS).

About Supacat Ltd

Supacat specialises in the design and development of high mobility vehicles and other specialist transport systems for military and civil customers. The company was founded in 1981 to develop the Supacat 6x6 high mobility vehicle and is a UK centre of excellence in all terrain transport technology. Designed by Supacat, the HMT vehicle is manufactured under licence from Lockheed Martin. From its facility at Dunkeswell, Devon, UK, it employs 105 people across a range of engineering disciplines, including design, testing and prototype manufacture through to maintenance, repair and overhaul and low rate production. It provides a complete support management service for its own as well as other manufacturers’ vehicles.

Supacat has a strong, proven background in military vehicle design, including the potent Jackal, a 4x4 mobile, weapons-mounted, long-range patrol vehicle, with its high level of mobility and protection, and 6x6 Military Enhancement Programme (MEP) version – both of which are variants of Supacat’s original High Mobility Transporter (HMT) concept.


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