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Sikorsky and Alpha Star launch Saudi JV

February 18th, 2011 by David No Comments

Sikorsky has announced an agreement with Alpha Star Aviation Services to begin discussions for the formation of a joint venture in Saudi Arabia.

Sikorsky says the venture with Riyadh-based Alpha Star would provide “comprehensive military and commercial aviation support and maintenance services in the Kingdom of Saudi Arabia”.

Northrop Grumman to issue quarterly share dividend

February 17th, 2011 by David No Comments

Northtop Grumman’s board has declared that the defence firm will release a quarterly dividend of $0.47 per share, payable on March 12, 2011.

Shareholders must hold the firm’s stock as of close of business on February 28, the Los Angeles-based, New York-listed firm added.

BAE completes L-1 cyber intelligence buyout

February 17th, 2011 by David No Comments

BAE Systems has completed its acquisition of the Intelligence Services Group (ISG) part of L-1 Identity Solutions,

ISG is comprised of several intelligence and cyber security technology and advisory businesses: SpecTal, Advanced Concepts, and McClendon.

US-based ISG employs just over 1,000 people.

“The ISG acquisition is also consistent with BAE Systems’ strategy to grow its services business in cyber and intelligence,” said BAE.

BAE says it acquired ISG for approximately $297m. The deal was initially announced in September. 

BAE announces 2010 results

February 17th, 2011 by David No Comments

BAE Systems has posted its financial statement for 2010, saying it had “robust full year results”.

The UK-based firm said its headline sales amounted to £22.4bn, a rise of 1.8% on 2009.

Pretax earnings were £2.21bn, up 0.8% from the previous year, translating to underlying earnings per share of 40.8p, up 1.7% on 2009.

Operating income was £1.54bn, while the firm said its dividend had risen 9.4% to 17.5p in 2010.

BAE said it had a “strong balance sheet and balanced use of capital”, with a “continued commitment to a policy of dividend growth”.

The firm also said it would continue to make selective acquisitions, and has £500m of existing acquisitions scheduled to complete in the first half of 2011.

Rolls Royce announces 2010 results

February 10th, 2011 by David No Comments

Rolls Royce has released its results for 2010, with an order book of £59.2bn, up slightly from £58.3bn in 2009.

The UK firm said it has booked £12.3bn in new orders during 2010.

The company had revenues of £11.09bn, increasing from £10.41bn the previous year.

Profit before financing was £1.13bn, up from £1.17bn in 2009.

Shareholder returns were 16p per share for the full year.

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