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Tag Archives: CapRock

Weekly Roundup October 31 – November 4, 2016: Final Pre-Election Week Brings News Flurry & more

October 31 – November 4, 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson In this last full week before a most unusual election, the evolving narrative of a re-shaping government contracting landscape added more chapters as this week’s assortment of stories GovCon Wire covered …

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November 1 Market Close: GovCon Index Flat, Harris & Engility Bounces Offset By Aerospace Declines

Executive Mosaic’s GovCon Index closed in narrow range Tuesday despite a majority of the session in positive as declines by aerospace and defense primes offset gains by Harris Corp. (NYSE: HRS) on news of a pending divestiture and Engility Corp. (NYSE: EGL) after quarterly earnings that exceeded Wall Street’s expectations. GovCon Index …

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Harris to Sell Maritime Comm Business for $425M, First Divestiture Since Jana Pact

Harris Corp. (NYSE: HRS) has agreed to sell its maritime energy communications business to global satellite services company SpeedCast International for $425 million in the military radio maker’s first divestiture since its August agreement with activist hedge fund Jana Partners. This move is part of Harris’ larger effort to examine non-core businesses and …

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Harris & Engility Top Wall Street’s Quarterly Earnings Forecasts, KBR Reports 3Q Net Loss

Three GovCon Index-listed government contractors and one also included in the S&P 500 composite index posted quarterly financial results before markets opened Tuesday. Co-listed Harris Corp. (NYSE: HRS) posted fiscal year 2017 first quarter results above Wall Street’s consensus forecasts and in conjunction announced a $425 million sale of its CapRock communications business as …

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Harris FY 2017 Guidance Below Street Estimate, 4Q Swings to Profit as Radio Maker Inks Board Appointment Pact With Jana Partners

Harris Corp.’s (NYSE: HRS) guidance for its 2017 fiscal year started July 4 came in below Wall Street’s consensus forecast before markets opened Tuesday as the communications technology contractor anticipates pressure in its tactical and maritime energy businesses to continue. Melbourne, Florida-based military radio maker Harris cited global oil price declines …

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Harris Lowers FY 2016 Revenue Outlook on Energy Price Declines, Lifts Earnings Guidance Despite 2Q Loss

Harris Corp. (NYSE: HRS) — one of 30 companies listed in Executive Mosaic’s GovCon Index — has cut revenue guidance for its 2016 fiscal year on global declines in oil prices that have affected the company’s outlook for the CapRock remote communication services business. The Melbourne, Fla.-based communications technology manufacturer — …

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CapRock Pens Four Deals with Government for Satellite Capacity

CapRock Government Solutions won four contracts to provide managed network services and more than 400MHz of commercial satellite capacity to four federal agencies. According to the firm, “the contracts run through 2013 and include requirements for bandwidth, teleport and backhaul services on Ku and X-band networks. “With over 4GHz of …

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Harris to Purchase CapRock for $525M Cash

Harris Corporation (NYSE:HRS) has entered into a definitive agreement to acquire CapRock Communications for a reported price of $525 million. According to Harris, “CapRock’s audited financial statements for calendar year 2009 included revenue of $359 million; earnings before interest, taxes, depreciation and amortization (EBITDA) of $54 million; and operating income …

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CapRock Inks FBI Deal to Support ‘Satellite Diversity’

CapRock Government Solutions  won a contract with the FBI in support of “its emergency restoration communications network, which serves as the backup for the FBI’s existing terrestrial connections.” According to CapRock, the firm “will provide a complete solution of technical design, network implementation, field services and program support for the …

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CapRock Increases DISN Access to 24 DoD Facilities

CapRock Government Solutions will expand its satellite and terrestrial infrastructure to include bandwidth-on-demand to more than 35  Department of Defense locations and direct connections at 24 critical Defense Information Systems Network (DISN) access points. The firm’s carrier-class network is a cog in the Defense Information Systems Agency’s (DISA) integrated DISN …

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