Home / Tag Archives: debt

Tag Archives: debt

Engility Sells USAID Business to Research Triangle Institute

Engility Corp. (NYSE: EGL) has sold its international development services business to North Carolina-based nonprofit organization Research Triangle Institute International for $24 million as part of the former’s efforts to pay down debt and reshape its portfolio. Chantilly, Virginia-headquartered Engility said in a Monday regulatory filing it expects to record a $20 million-$30 million …

Read More »

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 …

Read More »

CACI 4Q Earnings, Sales Exceed Street Estimate as FY 2016 Results Also Top Analyst Outlook

CACI International (NYSE: CACI) topped Wall Street’s expectations for earnings and revenue in the GovCon Index-listed government services contractor’s fourth quarter and fiscal year 2017 financial results released before markets opened Thursday. Arlington, Virginia-based CACI’s February acquisition of the former L-3 National Security Solutions business drove net income and sales growth in both the …

Read More »

Vectrus Lifts 2016 Earnings, Revenue Guidance

Vectrus (NYSE: VEC) has lifted full-year earnings and revenue guidance on improved outlooks in cash flow for the 2016 second half and expectations of extra payments on debt. The Colorado Springs-based government communications services contractor now expects earnings per share in the $2.07-$2.32 range versus the previous $2.02-$2.31 range with revenue of $1.18 billion-$1.2 billion compared to …

Read More »

Cubic Cuts FY 2016 Earnings Outlook, Holds Revenue Guidance as 3Q Results Below Street Consensus

Cubic Corp. (NYSE: CUB) cut its full-year earnings outlook in fiscal third quarter financial results released Wednesday as the defense and transportation contractor expects increases to interest and financing costs on a new credit facility, tax expenses and a partial pension settlement plan in the fourth quarter. San Diego-based Cubic expects adjusted …

Read More »

Engility CEO: ‘Niche’ Acquisitions Could Occur With Board Support, Organic Growth Remains Focus

Engility Holdings (NYSE: EGL) could make small “niche” acquisitions with support from the board of directors as the government services contractor looks to expand its current work and market footprints this year,  chief executive Lynn Dugle told investors Monday. “My full attention is on organic growth getting the team organized to getting the team …

Read More »

Engility Raises Full-Year Earnings Forecast on 2Q Beat

Engility Holdings (NYSE: EGL) lifted its full-year earnings outlook Monday in part on higher total contract bookings and bill-to-book ratio for the second quarter as the company continues on efforts to prioritize debt repayments. Chantilly, Virginia-based government services contractor Engility said it expects earnings of $1.18-$1.33 per share for its fiscal year compared to the original $1.00-$1.15  outlook …

Read More »

July 6 Market Close: GovCon Index, US Stocks Decline Amid Greece Jitters

The GovCon Index closed at a loss in its first session post-Fourth of July weekend to record a decline of 0.117 points and end at 74.604 Monday. Uncertainty over the debt negotiations in Greece weighed on U.S. stocks Monday after two-thirds of Greek citizens voted “no” on a proposal from the …

Read More »

June 22: GovCon Index, US Stocks Gain on Investors’ Greek Hopes

The GovCon Index started the trading week with a gain of 0.236 points to 77.146 as U.S. stocks gained on investor optimism over a potential resolution to Greece’s long-running debt negotiations. Market activity picked up after comments from Greek Prime Minister Alexis Tsipras that his country could be willing to …

Read More »

ITT Corp. Looks to Raise $100M in ‘Dutch Auction’ Debt Sale

ITT Corp. (NYSE: ITT) is seeking to raise $100 million in a “Dutch auction” bond offering of 7.4 percent debt instruments that come due in 2025. The company said that $87.5 million of principal had been tendered as of 5 p.m. EST on Oct. 3. ITT has retained J.P. Morgan Securities …

Read More »