11 Feb 03. Boeing has completed the acquisition of enterprise architecture, system engineering, and software technology solutions provider Conquest Inc. Terms were not disclosed. The unit becomes Boeing Advanced Information Systems – Maryland Operations, a department of Boeing Space & Intelligence Systems, Boeing’s centre for all intelligence programs.
10 Feb 03. Lockheed Martin’s Marine Systems division in Baltimore delivered its Focused Mission Ship (FMS) Concept Study to the U.S. Navy. The report concludes that the Navy’s platform requirements can be achieved within the required $220m cost target. The Lockheed Martin Baltimore-led team was one of three study teams that Lockheed Martin supported. The study is the culmination of 90 days of intensive design and analyses conducted in collaboration with the Navy and Lockheed Martin partners.
7 Feb 03. The Pentagon could still decide to cancel the troubled V-22 Osprey if the experimental tilt-rotor aircraft flunks tough flight tests now underway, Defense Undersecretary Edward Aldridge said on Friday. Aldridge, a self-described skeptic of the program, said he would travel to the Naval Air Warfare Center at Patuxent River, Maryland, next week to review the results of 250 hours of flight tests conducted on the aircraft since last May.
6 Feb03. EDO Corp. acquired privately-held Advanced Engineering and Research Associates Inc. for about $38m in cash. EDO said in a press release Thursday that the acquisition will be accretive to 2003 earnings.Advanced Engineering, which has long-term contracts with the Marine Corps and the Coast Guard, will become a part of EDO’s Systems and Analysis Group. In 2002, Advanced Engineering had about $50m in revenue.
12 Feb 03. Dassault Aviation SA said its full-year 2002 revenue fell 1.0% to €3.44bn from €3.47bn in 2001. It said its fourth-quarter 2002 revenue rose 20% to €1.20bn from €998.8m in the corresponding period of 2001.
12 Feb 03. EDO Corporation (NYSE:EDO – News) announced that net earnings for the fourth quarter ended December 31, 2002 were $6.0m, or $0.32 per diluted share. For the fourth quarter of 2001, net earnings from continuing operations were $4.3m, or $0.28 per diluted share. Revenue for the fourth quarter of 2002 increased 42% to a record $103.1m (2001: $72.7m).
10 Feb 03. Stewart & Stevenson Tactical Vehicle Systems, LP (TVS) at Sealy, TX has received certification to the international quality standard ISO 9001:2000, illustrating ongoing commitment to continuous improvement that will keep the company in the highest echelons of quality manufacturing.