Platform Companies: A May Overview
As we look back at May, Iâd like to highlight some significant contract activity and financial reporting for the major platform manufacturers and the executives that are driving the deals.
Firat H. Gezen is theÂ president of ordnance and tactical systems at General Dynamics Mission Systems.
On May 25th, the Defense DepartmentÂ announcedÂ GD won a position on a five-year, $511.2 million contract with the U.S. Army to manufacture mortar-propelling charges. The Falls Church, Va., company will compete with munitions maker American Ordnance for task orders under the firm-fixed-price contract, with work set to run through May 24, 2023. GDÂ reportedÂ first quarter 2018 net earnings of $799 million, a 4 percent increase from the same period last year, and revenue of $7.5 billion, a 1.3 percent increase over first quarter 2017.
Orlando Carvahlo is theÂ executive vice president of aeronautics at Lockheed Martin.
On May 24th, the DoDÂ awardedÂ Lockheed a potential $558.3 million contract with the U.S. Navy to provide sustainment services for initial production of Lot 11Â F-35 Lightning IIÂ fighter jets. In addition to the Navy, the firm-fixed-price contract covers purchases from the Air Force, Marine Corps, and foreign military sales customers, with work set to run through February 2023. The Bethesda, Md., companyÂ reportedÂ first quarter 2018 net earnings of $1.2 billion, compared with $789 million during the same period last year, and net sales of $11.6 billion, up from $11.2 billion in first quarter 2017.
Dr. Taylor Lawrence is vice president of Raytheon Missile Systems.
On May 30th, ReutersÂ reportedÂ that Sweden plans toÂ finalizeÂ a potential $3 billion purchase ofÂ RaytheonâsÂ PatriotÂ missile defense system within the next few weeks. Sweden will seek U.S. approval for the contract, which includes an option for the supply of up to 300 missiles. On May 10th, the DoDÂ announcedÂ that the Waltham, Mass., company secured a potential $529.7Â millionÂ contract to provide updatedÂ Rolling Airframe MissilesÂ to the Navy and three foreign customers. Work will run throughÂ September 2023. Yesterday, May 31st, the DoD said RaytheonÂ wonÂ a potential $847.6 million award to make an âover-the-horizonâ weapon system for the Navyâs littoral combat and frigate ships. RaytheonreportedÂ first quarter 2018 net sales of $6.3 billion, an increase of 4.5 percent during the same period last year.
Leanne Caret, president and chief executive officerÂ ofÂ BoeingÂ Defense, Space & Security, is aÂ two-time Wash100Â award winner.
GovConWireÂ reportedÂ May 30th that the Navy intends to negotiate a potential 10-year, $1.86 billion contract with Boeing for new and updatedÂ P-8AÂ PoseidonÂ training systems. The indefinite-delivery/indefinite-quantity contract will encompass upgrading aircrew and maintenance training systems for the Navy and the Australian air force through a foreign military sales transaction. On May 24th, the DoDÂ announcedÂ Boeing secured a $416.4 million contract modification covering three Lot 9 P-8A multi-mission aircraft for the Navy, with work set to occur through October 2020. BoeingÂ postedÂ first quarter 2018 revenue of $23.4 billion, a 6 percent increase during the same period last year.
Shawn Purvis is a corporate vice president and president of enterprise services at Northrop.
On May 22nd, the State DepartmentÂ announcedÂ Northrop won a $434.2 million award for updates to itsÂ ConsularOneÂ program, used to process visas, passports and emergency services for U.S. nationals abroad. The contract stipulates that Northrop provide a âuser-friendlyâ website to facilitateÂ self-service, a paperless workflow, standardized functions, operational scalability and integrated information.Â NorthropÂ reportedÂ first quarter 2018 sales of $6.7 billion, an increase of 5 percent from first quarter 2017, and net earnings of $739 million, an increase of 14 percent during the same period last year.
Recent Contract Wins
Other significant contract wins we’re recapping include:
- Orbital ATKÂ wins NavyÂ contractÂ for $171M.
- CarahsoftÂ secures potential $125M agreement with DoD to provideÂ Red HatÂ products.
- NavyÂ plans $1.86B contractÂ withÂ Boeing.
- Leonardo DRSÂ wins potential $841M Army contract.
- NASAÂ awardsÂ Ball AerospaceÂ aÂ $113M contract.
Orbital ATKÂ hasÂ receivedÂ a two-year, $171.2 million contract option to produce a seventh batch of Advanced Anti-Radiation Guided Missile systems for theÂ U.S. Navyand foreign military sales customers. The company will convert 271Â AGM-88B High Speed Anti-Radiation MissilesÂ from the Navy into 253Â AGM-88E AARGMÂ all-up-rounds and eightÂ Captive Air Training Missiles, theÂ Defense DepartmentÂ said Wednesday.
Carahsoft TechnologyÂ hasÂ receivedÂ a potential five-year, $125 million blanket purchase agreement to provideÂ Red HatâsÂ software and services to theÂ Defense Department and related agencies. The BPA will run through April 1, 2023, and includes training and maintenance support services for DoD, theÂ U.S. Coast GuardÂ and intelligence agencies, CarahsoftÂ said Wednesday.
The U.S. NavyÂ plansÂ to negotiate a potential 10-year, $1.86 billion contract withÂ BoeingÂ for the procurement of new and updatedÂ P-8AÂ Poseidon training systems. A FedBizOpps noticeÂ posted TuesdayÂ says the indefinite-delivery/indefinite-quantity contract will include upgrade work on aircrew and maintenance training systems for the Navy and the Australian air force through a foreign military sales transaction.
Leonardo DRSÂ hasÂ receivedÂ a potential 10-year, $841.5 million contract to supply new hardware and provide engineering services for a computing platform theÂ U.S. Armyuses to manage networked-battle command information. DRSâ network and imaging systems team in Melbourne, Fla., will help address theÂ Armyâs Mounted Family of Computer Systems IIÂ requirement under the indefinite-delivery/indefinite-quantity contract from theÂ Defense Information Systems Agency, the Defense DepartmentÂ said Friday.
Ball Aerospace and Technologies
Â hasÂ received
Â a $113.2 million contract to develop, build and test the main instrument components ofÂ NASAâs
Â upcoming observatory known as theÂ Wide Field Infrared Survey Telescope
. Ball will deliver design, analysis, fabrication, test and evaluation services supporting the development of WFIRSTÂ Wide Field Instrument
Â components under theÂ WFI Opto-Mechanical Assembly
Â contract, the space agencyÂ said Thursday
THIS WEEKâS TOP 10Â NEWS STORIES