BUSINESS NEWS
20 Jul 09. Defence Industry: Top 100 Companies. Defense News published (20 Jul 09) a list of the leading 100 Defence companies, ranked by Defence turnover in 2008. Lockheed Martin (US) retained first place but BAE Systems overtook Boeing (US) for second place (thus reversing the second and third 2007 rankings). Other UK companies were ranked: Rolls-Royce – 17th (16th in 2007); QinetiQ – 30th (32nd); VT Group – 42nd (40th); Cobham – 43rd (48th); Babcock International – 46th (38th); Serco – 52nd (N/R); Meggitt – 63rd (64th); GKN Group – 72nd (55th); Ultra Electronics –73rd (70th) and Chemring – 87th (82nd).
Comment: Ranking the companies by total 2008 turnover places Boeing first, followed by Lockheed Martin and BAE Systems. Reliance on Defence is indicated by the proportion of turnover generated: Lockheed Martin – 92.5%; BAE Systems – 95.1% and Boeing – 51.0%.(Source: DNA DEFENCE NEWS ANALYSIS, Issue 10/28, 27 Jul 09)
23 Jul 09. MTU Aero Engines sees 31 per cent fall in net profit. MTU Aero Engines has reported a 12 per cent decline in operating profit for the first half of 2009, despite a 10 per cent increase in revenues. The drop was attributed to: higher research and development costs; ramp-up costs for new engine programmes; and a shift in its business mix. (Source: Jane’s Defence Industry)
23 Jul 09. Dassault Aviation wants to see a simpler structure and tighter cost control at Thales as ways of lifting profits at the defense systems company, Charles Edelstenne, chief executive of the aircraft maker, said July 23. Dassault holds 26 percent of Thales after paying 1.96bn euros for the stake earlier this year. The aim is to gradually optimize Thales’ results in order to “make money on our investment,” he told journalists and market analysts on Dassault’s first half results. Cancellations of Falcon business jets cut first half sales by 10 percent and slashed net profits. Asked how the profit boost at Thales would be achieved, Edelstenne said, “First of all, it will be through a simplification, because it’s a complex organization.” There would be a closer control to reduce costs, he said. “There’s no magic formula, it’s just a case of laborious work,” he said. Edelstenne declined to give a profitability target for Thales. “I will leave that to the chairman of Thales to set,” he said. (Source: Defense News)
28 Jul 09. Seven current and former executives of Airbus and its parent company EADS, including Noël Forgeard, former EADS co-chief executive, should be fined for alleged insider share dealing offences according to a provisional report prepared for the French financial markets regulator.
The 381-page report of the independent examiner appointed by the Autorité des Marchés Financiers has recommended a total of €12.3m in fines, including €5.45m against Mr Forgeard and €3.6m against John Leahy, Airbus’s chief commercial officer. It also recommends a fine of €700,000 against EADS for alleged market information delays. However, it cleared Lagardère, the French media group, and Daimler, the German carmaker, EADS’s two leading industrial shareholders, as well as Tom Enders,
chief executive of Airbus. The report is part of an investigation that followed controversial share sales months ahead of a June 2006 profits warning prompted by delays to the flagship A380 superjumbo project at Airbus. (Source: FT.com)
29 Jul 09. TASER International, Inc. (Nasdaq:TASR – News) reported financial results for the second quarter ended June 30, 2009. Q2 Financial Summary:
* For the second quarter of 2009 revenues were $21.8m, an
increase of $0.7m or 3.5% over the same quarter of the
prior year. On a year to date basis, revenues for the first half
of 2009 were $46.4m, an increase of $2.9m or 6.5%
over the first half of 2008.
* Gross margin decreased to 62.9% in the second quarter of 2009,
compared to 64.5% in the second quarter of 2008. Sequentially,
gross margins improved from 59.5% primar