New York (AirGuideBusiness - Aerospace & Defense News - Defense North America) Jun 5, 2011
House panel proposes $9 billion cut to defense budget The House Appropriations Defense subcommittee has proposed a Defense budget of $544 billion, which is $9 billion less than what the Obama administration had requested. Some are seeing the move as a symbolic step. "Historically, you've had a lot of Republicans who have refused even to consider the possibility of cuts in the area of defense," said Sen. Mike Lee, R-Utah. "I don't think we have that luxury anymore." Jun 1, 2011
Boeing Boeing says Super Hornet jet attracting more interest. Boeing said that potential international customers are expressing increased interest in its Super Hornet fighter jet. "We have definitely gotten a lot more interest," said Chris Chadwick, president of Boeing Military Aircraft. Chadwick said customers in the Asian-Pacific region and the Middle East are interested in the jet, which can carry air-to-surface weapons as well as air-to-air missiles. Jun 1, 2011
Esterline Esterline Fiscal 2011 Second Quarter Performance Strong Across the Board. Esterline Corporation, a leading specialty manufacturer serving aerospace/defense markets, today reported fiscal 2011 second quarter (ended April 29) income from continuing operations of $46.0 million, or $1.47 per diluted share, on sales of $435.3 million. This represents a 13.8% growth in sales over last year's $382.5 million, and a 57.9% growth in income over last year's $29.1 million. Diluted earnings per share of $1.47 were up 50% over the prior year's level of $0.96 per diluted share. For the first half of fiscal 2011, Esterline reported net income of $75.9 million, or $2.44 per diluted share, on sales of $806.1 million, compared with net income of $42.4 million, or $1.40 per diluted share which included $0.03 from discontinued operations, on $717.8 million in sales in the same period last year. New orders for the first six months of 2011 were $862.1 million compared with $733.5 million for the same period last year. Backlog at the end of the period was $1.16 billion compared with $1.09 billion a year ago.
Jun 1, 2011
General Dynamics Navy awards NASSCO $744 million contract to build 2 ships. The Navy has granted General Dynamics NASSCO a contract to build two auxiliary ships for $744 million. The Navy is also considering giving the company another contract to build a Mobile Landing Platform vessel. The cash infusion will help...