04 Aug 03. In a move to enhance customer satisfaction and strengthen its competitive advantage in design and integration of combat systems and sensors for maritime and related markets, Lockheed Martin [NYSE: LMT] is further integrating its naval electronics and surveillance systems units into a single business enterprise called Maritime Systems & Sensors (MS2). This restructured company, with more than 11,000 employees, has significant operations in Akron, OH; Archbald, PA; Baltimore, MD; Eagan, MN; Manassas, VA; Syracuse, NY; Moorestown, NJ; Clearwater and Riviera Beach, FL, as well as satellite operations in more than 70 locations, including 22 overseas. The MS2 restructuring, to be accomplished over two years, will include adopting a single financial system, implementing common processes in all disciplines, and reviewing manufacturing capacity and redundancy. Combined, these initiatives will result in the elimination of some positions across MS2. The number of employees affected is expected to be minimal as a result of normal attrition over the two-year implementation period.
07 Aug 03. STN ATLAS Elektronik GmbH of Bremen, a company jointly owned by Rheinmetall DeTec AG of Ratingen (51%) and BAE SYSTEMS of London (49%), will be divided into two separate companies, one specialising in ground forces technology, the other in naval systems, to take effect upon completion (expected by end of August 2003), retroactive to January 1st 2003. The new companies will henceforth be known as “Rheinmetall Defence Electronics GmbH” and “ATLAS ELEKTRONIK GmbH”. Rheinmetall Defence Electronics hopes to attain sales in excess of €300 million for the 2003 financial year. The 3,100-strong staff of the current Bremen-based company will be divided evenly between the two new organisations. The members of the existing management board of STN ATLAS Elektronik GmbH will continue to manage one or other of the two newly formed companies according to their present responsibilities.
07 Aug 03. Ultralife Batteries, Inc. (NASDAQ: ULBI – News)reported operating income of $1.9m on record revenues of $20.1m for its second quarter ended June 28, 2003. Net income was $2.1m, or $0.16 per diluted share, including $0.4m of non-cash, non-operating income from foreign currency translation impacts pertaining to intercompany loans. In addition, the Company generated positive operating cash flow (defined as operating income plus depreciation and amortization) of $2.7m. Revenues for the second quarter increased 134% to $20.1m from $8.6m for the same three-month period in the prior year. The $11.5m increase was driven by higher shipments of the Company’s HiRate(r) batteries, notably the BA-5390 batteries, which are used by military organizations in a variety of communications and weapons systems. Gross margin for the June 2003 quarter reached $4.7m, or 24% of revenues, compared with $1.1m, or 13% of revenues, in the same period a year ago reflecting revenue growth and manufacturing efficiency improvements.
14 Jul 03. BAE SYSTEMS C4ISR has supplied ARTISAN, an innovative multiplexer (Mux) configuration tool, for use by the British Army’s Royal School of Signals. ARTISAN was originally developed to support the programming of Mux’s being provided to the British Armed Forces as part of the Balkans Commercialisation Urgent Operational Requirement. It can configure Mux’s during all phases of an operational deployment. The system employs pre-written, optimised script files to facilitate the automated and error-free establishment of networks. It allows each Mux configuration file to be developed off-line and transmitted anywhere in the world. ARTISAN then automatically configures each of the Mux’s in the network.
7 Aug 03. Alliant Techsystems Inc. (NYSE:ATK – News) earnings rose more than 30 percent on strong military contract gains and new revenue from acquisitions. Alliant reported net earnings of $32.9m, or 84 cents per share, in its fiscal first quarter ende