29 Apr 03. BAE Systems Chairman, Sir Richard Evans, said at the AGM Tuesday: “Trading in the first few months of the year has been consistent with the outlook for the Group indicated at the time of the publication of the Report and Accounts. That is, that the underlying trading performance for the company’s defence businesses in 2003 is expected to remain broadly in line with that for 2002 before taking account of the exceptional charges in 2002 for the Nimrod and Astute contracts.
29 Apr 03. Three subsidiaries of The Boeing Company (NYSE: BA – News) and the Royal Air Force have agreed to a contract for a package of software solutions, creating the first synergy sale from these companies. Jeppesen, SBS International and Preston Aviation Solutions combined their industry-leading scheduling and analysis tools to create a single tailored solution for the RAF, helping it to operate at the highest level of efficiency. The package includes OPSControl from Jeppesen, a dynamic grouping of Unix-based management tools to automate and streamline flight operations management. Through OPSControl modules FliteManager, FliteWatch, WXTool and EasyBrief, RAF flight operations personnel can more effectively distribute and balance flight planning and other routine duties, allowing them to spend more time briefing crews and monitoring flights.
23 Apr 03. The U.K. Department of Trade and Industry (DTI) announced that the “public security aspects” of the proposed purchase of BAE SYSTEMS’ shares in Astrium, by EADS, are to be considered under the Fair Trading Act 1973. Competition aspects of the transaction are being considered by the European Commission. Comment: BAE SYSTEMS announced its intention to leave the Astrium space systems joint venture in July 2002, by selling its 27.5% economic interest to EADS. An agreement between the two companies was signed on 30 Jan 03, subject to “regulatory clearances” (as above). The transfer to EADS involves BAE SYSTEMS’ participation in the MoD’s Skynet 5 satellite military communications programme and the Paradigm joint venture formed to provide a Skynet service.
Referral to the Office of Fair Trading when “security interests” were involved has been invoked on five previous occasions recently, most notably the acquisition of Racal Electronics by Thomson CSF (now Thales). None of the five proposals was refused.
(Source: DNA DEFENCE NEWS ANALYSIS Issue 03/18, 28 Apr 03)
29 Apr 03. Moog Inc. quarterly earnings rose about 10 percent because of its work on the JSF project and other military aircraft, plus a weak dollar. For its fiscal second quarter, ended March 31, the East Aurora, New York-based company said earnings rose to $10.3m, or 67 cents per share, (2002: $9.3m, or 61 cents).
Total revenue rose to $190mn from $182.2m. Aircraft revenue of $99m were up $9m, or 10 percent, mostly as a result of the Joint Strike Fighter and the V-22 programs.
24 Apr 03. Ball Corporation reported first quarter earnings attributable to common shareholders of $31.5m, or 55 cents per diluted share, on sales of $1.07bn, (2002: $27.5m, or 48 cents per diluted share, on sales of $876m). The aerospace and technologies segment had operating earnings of $16.1m in the quarter on sales of $132m, (2002: $9.8m on sales of $123m).
24 Apr 03. Boeing Co and consortium partners said it would offer to convert used Boeing 767 planes now in the British Airways (London:BAY.L – News) fleet and provide at least 20 percent more aircraft than its rival for the UK FSTA requirement.
Erratum, in last week’s issue our headline read, ‘FSTA CONTRACT AWARD EXPECTED AT THE END OF THE MONTH’, this should have read ‘FSTA OFFERS IN AT END OF MONTH’.
22 Apr 03. BAE SYSTEMS has acquired the shares of Piper Group, a provider of technology services. The Piper Group has been a key partner to BAE SYSTEMS and the UK MOD in the development of the trilogi technologies, which provide secure browser and database software for access to a wi