Executive Mosaic’s GovCon Index ended the week slightly lower at $5,181.95 (-0.03%) after posting record closes on Monday, Tuesday and Thursday. Also, the index, which tracks the stock performances of 30 major government contractors, gained 2.53% week-on-week, the highest weekly gain since its launch in December 2023. The three major US stock inde...
Eleven companies were selected by the U.S. Navy for the procurement of machinery and systems services for naval vessels and land-based sites. The Department of Defense said Thursday the vendors secured spots on the indefinite-delivery/indefinite-quantity contract with a combined value of $496.1 million. The contract covers the procurement of h...
RTX (NYSE: RTX) posted $19.7 billion in fiscal 2024 second-quarter sales, up 8 percent from the prior-year period, and saw its adjusted earnings per share for the period rise 9 percent to $1.41. The Arlington, Virginia-based aerospace and defense contractor said Tuesday its total backlog reached $206 billion at the end of the quarter with...
ECS has appointed Peter Santighian, a more than two-decade government contracting industry veteran, as senior vice president of defense. Santighian will oversee the company’s strategy and growth initiatives and drive the delivery of platforms and services in the areas of cloud, cybersecurity, artificial intelligence and machine learning, enter...
Iridium Communications (Nasdaq: IRDM) reported financial results for the second quarter of 2024, highlighting revenue and subscriber growth plus profit during the period. In the three months ending June 30, 2024, total revenue increased 3.9 percent year-over-year to $201 million, while net income reached $32.3 million compared to the $30.7 million n...
RTX (NYSE: RTX) has secured a potential $1.94 billion contract from the Missile Defense Agency to manufacture and assemble next-generation ballistic missile interceptors for the U.S. government and Japan’s defense ministry. The Department of Defense said Thursday the sole-source award covers the production of Standard Missile-3 Block IIA all...
BAE Systems has won a potential five-year, $347 million contract from the National Geospatial-Intelligence Agency to support a program that seeks to update and sustain NGA’s National System for Geospatial-Intelligence software and develop new features and other enhancements. NGA announced the award of the NSG Enterprise Repository and Virtual ...
Sonya Branco is set to step down as executive vice president for finance and chief financial officer at CAE (NYSE: CAE), positions she has held since 2016. Constantino Malatesta, chief accounting officer and vice president of the Controller Office since 2022, will take over Branco’s role in the interim while a permanent successor is sought,...
Generative artificial intelligence refers to a type of AI tool that can produce content in response to user prompts. These rapidly evolving technologies are transforming operations across both the public and private sectors, and while organizations are moving quickly to adopt genAI, there are still concerns that must be considered as these tools are...
Northrop Grumman (NYSE: NOC) saw its second-quarter fiscal 2024 sales climb 7 percent to $10.2 billion, up from $9.6 billion during the prior-year period, and attributed the growth to strong demand for the company’s products and services. The Falls Church, Virginia-based aerospace and defense contractor said Thursday Q2 net awards totaled $15....
