Alexandria, Virginia-based aftermarket services provider VSE (Nasdaq: VSEC) has closed its acquisition of Turbine Controls, a Federal Aviation Administration-approved aircraft repair station, for $120 million in cash and common shares. John Cuomo, president and CEO of VSE, said in a statement published Wednesday that the acquisition presents an oppo...
General Dynamics (NYSE: GD) has presented its first quarter 2024 results and reported that revenue and net earnings grew 8.6 percent and 9.5 percent year-over-year to $10.7 billion and $799 million. The company said Wednesday its operating earnings reached $1 billion, or 10.4 percent higher from a year ago, while company-wide backlog went up 4.4...
Workforce is a determining factor of the success of any project, and it can be a challenge for federal agencies to find and recruit information technology experts and train their existing staff – who are often used to traditional processes – on new technologies. Low-code software presents a solution to this problem. This programming method...
The State Department has approved the requests of the governments of Poland and the Netherlands to buy an extended-range variant of the Advanced Anti-Radiation Guided Missile system, related equipment and support services from the U.S. government under two foreign military sales deals worth approximately $2 billion combined. Northrop Grumman (NYSE: ...
Joint warfighting is a major focus for the Department of Defense as it works to adapt to the challenges of the modern battlefield, a constantly shifting landscape in which success is determined by data and digital capabilities. Interested in getting a comprehensive look into the intricacies of joint warfighting initiatives? The Potomac Officers Club...
Government technology company Raft has appointed GovCon industry veteran Mark Procaccini as senior vice president of operations. The company said Tuesday Procaccini will bring his years of experience in mergers and acquisitions, contracting, private equity and integration to this newly created position, where he will help scale operations to support...
RTX (NYSE: RTX) has reported first quarter 2024 sales of $19.3 billion, a 12 percent increase from the prior-year period, and posted GAAP earnings per share of $1.28, up 32 percent compared to the previous year. In an earnings statement published Tuesday, RTX said it recorded $1.3 billion in gross proceeds from the divestiture of...
Lockheed Martin (NYSE: LMT) generated $17.2 billion in net sales during the first quarter of 2024, up 14 percent from the prior-year period’s $15.1 billion, and reported $1.5 billion in Q1 net earnings, or $6.39 per share. The Bethesda, Maryland-based aerospace and defense contractor said Tuesday it returned $1.8 billion in cash to shareholders th...
Northrop Grumman (NYSE: NOC) has secured a potential $167.1 million contract modification from the U.S. Navy to supply four lot 6 full-rate production Ground/Air Task Oriented Radar systems. Marine Corps Systems Command is the contracting activity and will obligate the full contract amount using the U.S. Air Force’s other procurement funds for...
Eric Gudino, formerly security supervisor at Applied Signal Technology, has been appointed vice president of security at Fornax Advanced Materials, a developer of advanced materials designed for defense and aerospace applications. The U.S. Navy veteran will lead a team of security professionals at Fornax-AM and manage the company’s security pr...
