21 Jan 03. BAE SYSTEMS Mission Solutions, has received certification that places the business at a world-class level of software development. The “Level 5” Capability Maturity Model rating was awarded by the Carnegie Mellon Software Engineering Institute (SEI) on December 19. Level 5 is the highest SEI rating, and indicates that Mission Solutions is developing outstanding software-based products for its government customers.
23 Jan 03. Textron Inc. (NYSE: TXT – News) reported fourth quarter and full-year results in line with its targets. Fourth quarter 2002 diluted earnings per share were $0.95 and net income was $131m, compared to fourth quarter 2001 diluted earnings per share of $1.81 and net income of $257m. Full-year 2002 diluted earnings per share before the cumulative effect of a change in accounting principle were $2.60 and income before the cumulative effect of a change in accounting principle was $364m, compared to $1.16 and $166m for the full-year 2001. Full-year 2002 revenues were $10.7bn, down from $12.3bn in
2001, reflecting higher revenues in the Aircraft segment, offset by the loss of revenue due to the divestiture of Automotive Trim and other businesses and lower revenue in the non-aircraft segments.
23 Jan 03. CACI International Inc. (NYSE: CAI – News) announced results for its second fiscal quarter and first half ended December 31, 2002. Revenue for the second quarter of Fiscal Year 2003 (FY03) increased 26 percent while income from continuing operations was up 45 percent compared with the prior year. Revenue increased 27 percent and income from continuing operations was up 42 percent in the first half of FY03 compared to Fiscal Year 2002 (FY02). Revenue and earnings growth in the quarter and first half of FY03 was due to increased levels of work in all of the company’s areas of service offerings. Second Quarter, FY03 Results from Continuing Operations Revenue for the second quarter of FY03 was $204.5m, an increase of 26 percent over second quarter FY02 revenue of $162.3m.
21 Jan 03. DRS Power & Control Technologies, a unit of DRS Technologies, Inc. (NYSE: DRS – News), introduced its new High-Performance Drives – a high-speed, electric drive product line for high-frequency motor drive applications. The line is available in both industrial and military-qualified models. DRS Power & Control Technologies is a leader in electric drive, propulsion, control and automation systems, with products on board every surface combatant and submarine in the U.S. Navy.
22 Jan 03. Eurocopter expects its operating margin to reach the 10% target set by its parent company by 2005, Eurocopter Chief Executive Jean- Francois Bigay said Wednesday. Speaking at a press conference, Bigay said the operating margin “will be in line with the 10% target set by our parent company (EADS). The target has been set for 2004, but there may be a slight delay until 2005.” He added that Eurocopter’s revenue is expected to grow by 10% a year “in the coming years.” In 2002, the company’s revenue rose 12% to €2.51bn. Eurocopter received orders for 301 new helicopters last year, boosting its global market share to 47% in helicopter numbers, and to 29% in terms of value, Bigay said. The orders received in 2002 had a total value of €1.43bn.
23 Jan 03. L-3 Communications (NYSE: LLL – News) Communication Systems-West division has been awarded a $19.3m cost-plus- award-fee contract to provide Multi-Platform Common Data Link (MP-CDL) systems for the Air Force Aeronautical Systems Command (ASC) located at Wright-Patterson Air Force Base, Ohio. L-3 has the prime responsibility for the MP-CDL Concept Technology Development system. This system, which represents the next generation of common data link hardware, will support transmission and receipt of data between ground facilities and multiple simultaneous air vehicle platforms. L-3 team members include Cubic, Inc., for surface terminal antenna system design, and Cisco for networking design.