A Note From Our President & Founder Jim Garrettson
Government contracting sector observers got a twin bill of significant acquisition developments during the Thursday evening-Friday morning “down time” in financial markets to continue the GovCon industry’s ongoing deal spree.
Prior to this morning’s opening bell, the former Halliburton subsidiary KBR announced its second U.S. government-focused purchase this year through a $300 million agreement to buy Honeywell Technology Solutions Inc. — the global industrial conglomerate’s federal services business.
This HTSI deal and pick up of Wyle in July for $550 million adds up to an almost $850 million bet by KBR on federal government services in a push to expand and diversify beyond the core engineering and construction work for energy market clients.
After Thursday’s close, Hewlett Packard Enterprise said it would acquire the high-performance computing technology company Silicon Graphics International for $275 million as HPE begins to embark on its new product- and platform-focused strategy.
SGI’s client base includes federal agencies with services in the fields of virtualization, data management, cloud computing and storage.
GovCon Wire — Executive Mosaic’s home of market-moving GovCon news — has all the details on KBR’s continued government services push and HPE’s move that includes a public sector angle.
Please click this link here for GovCon Wire’s full report on the KBR deal to buy HTSI, while the GCW story on the HPE-SGI transaction is available here.
Vectrus Lifts 2016 Earnings, Revenue Guidance
Net income and sales held flat year-over-year but the Exelis services spinoff also reports progress on its long-term debt repayment strategy.
Phil O’Reilly Named Brocade Federal Sales VP
A three-decade technology industry veteran, O’Reilly first joined Brocade in 2010 and most recently served as CTO for Americas and federal sales.
GovCon Index– and S&P 500-listed defense contractors Raytheon (NYSE: RTN) and L-3 Communications (NYSE: LLL) lifted full-year earnings per share and revenue guidance before markets opened Thursday with third quarter EPS above Wall Street’s expectations for both companies. Raytheon showed a year-over-year revenue increase for the third quarter on growth in Paveway guided bomb and
Three government contractors listed in Executive Mosaic’s GovCon Index reported second quarter financial results before U.S. markets opened Wednesday. Raytheon (NYSE: RTN) and L-3 Communications (NYSE: LLL) both lifted full-year earnings and revenue guidance Thursday on second quarter results that topped the consensus analyst outlooks for each figure. Raytheon cited sales of its Paveway bomb and activity in its
Raytheon (NYSE: RTN) — listed both in Executive Mosaic’s GovCon Index and the S&P 500 – has reported higher sales for its first quarter on global demand for its weapons and lifted its full-year earnings guidance despite a year-over-year profit decline. The Waltham, Mass.-based missile maker said first quarter revenue increased 8.88 percent from the same period last year to