Bowman Radio System Costs (PQ). Mr. Hancock: To ask the Secretary of State for Defence what the cost has been of developing the Bowman tactical radio system; and if he will make a statement
Dr. Moonie: The cost of developing the Bowman tactical communication system up to the award of a Supply and Support contract to GD UK Ltd., last September, was £405m. The Supply and Support contract is worth £1.9bn. To date, £156m of this contract has been spent on development.
25 Jul 02. Computer Sciences Corporation (NYSE: CSC – News) has been appointed program manager for the Land Warrior Consortium, a group of companies working to develop the Army’s next-generation suite of integrated electronics, battle dress and weaponry to increase the survivability and effectiveness of Army infantry, Ranger and special operations forces.
The new systems will integrate weapon-mounted video cameras and other
capabilities currently fielded with U.S. forces in Afghanistan with new
elements, including network-based wireless communications, wearable computers and helmet-mounted monocle displays allowing soldiers to view daylight video, maps and other assorted feeds and documents.
Under the decision by the Land Warrior Consortium, CSC will lead the development of Block I Land Warrior systems suitable for testing and a production decision in November 2003. CSC is performing the work in support of Project Manager, Soldier Systems, Ft. Belvoir, Va., under a 28-month, $69m agreement awarded in June 2001.
9 Jul 02. DRS Technologies, Inc. (NYSE:DRS – News) has been competitively awarded a $12.4m contract from the U.S. Army, representing Phase II of the Cost Effective Targeting System (CETS) program.
For this contract, DRS will develop and provide two CETS prototypes. The ultimate objective of the CETS effort is to provide a fully integrated sensor suite automated for application on the Demo III Unmanned Ground Vehicle (UGV). The UGV will be part of the Networked Sensors for the Objective Force Science & Technology Objective, which will support the U.S. Army’s Future Combat System (FCS) initiative. Successful completion of Phase II could lead to future awards yet to be funded for system design and development, as well as production, in support of the Army’s Future Combat System.
16 Jul 02. L-3 Communications (NYSE:LLL – News) today announced results for the second quarter ended June 30, 2002, reflecting significant increases in sales, operating income, free cash flow and diluted earnings per share before
extraordinary items compared to the same period last year.
Results for the 2001 second quarter have been adjusted to reflect the impact of Financial Accounting Standards (SFAS) No. 142, Accounting for Goodwill and Other Intangible Assets, by adding back $10.6m to operating income and $0.11 per diluted share for the goodwill amortization expense recorded in the second quarter of 2001.
For the second quarter of 2002, sales were $955.2m, an increase of 70.1%, (2001: $561.6m).Operating income for the 2002 second quarter increased 37.4% to $97.7m, (2001: $71.1m). Operating income as a percentage of sales declined to 10.2% in the second quarter of 2002, from 12.7%, as adjusted, in the second quarter of 2001.
25 July 02. United Defense Industries (NYSE: UDI – News) reported higher earnings for the quarter ended June 30, 2002.
Second-quarter net income rose 74 percent to $27.3m, or $0.53 cents per
basic share, (2001: $15.7m, or $0.39 cents).
The increase primarily reflected improved earnings at United Defense’s
international affiliate in Turkey, lower amortization costs related to
acquisitions and improved margins due primarily to an award fee of $7.2m from the Army for the company’s on-schedule, on-budget work on the Crusader program.
25 Jul 02. An unsuccessful bidder has filed a protest with the General Accounting Office (GAO) over the award of a $154.4m (maximum order amount) indefinite-delivery/indefinite-qua