February 13, 2008 |
The FBI selected Lockheed Martin Corp. for a contract worth as much as $1 billion to build a database for fingerprints and other biometric information. The Transportation and Security Solutions division of the Bethesda, Md.-based aerospace giant won the one-year deal valued at about $40 million, but if all nine one-year options are exercised, the contract's value will approach $1 billion.
January 26, 2008 |
Lockheed Martin Corp. and Boeing Co., the top two U.S. defense contractors, formed a team to explore whether to submit a bid to design and build a new long-range bomber for the Air Force. The Air Force aims to develop the "Next Generation Bomber" by 2018, Boeing and Lockheed said.
January 25, 2008 |
Aerospace giant Lockheed Martin Corp. said fourth-quarter profit rose 9.6%, beating analysts' estimates as more-efficient assembly lines helped compensate for fewer deliveries of F-16 jet fighters. The company raised its 2008 earnings forecast, pushing its stock up the most in more than four years. Net income rose to $799 million, or $1.89 a share, from $729 million, or $1.68, a year earlier, Bethesda, Md.-based Lockheed said. Sales were unchanged at $10.8 billion. Lockheed shares rose $4.21, or 4.1%, to $105.
January 1, 2008 |
Lockheed Martin Corp., the world's largest defense company, won an order valued at $498.2 million to supply F-16 fighter jets to Pakistan. Lockheed will supply 18 F-16s to Pakistan as part of a foreign military sales program coordinated by the U.S. Air Force, the Pentagon said. The order is part of $5 billion in weapon sales to Pakistan that Congress approved last year. Lockheed's shares fell $1.52, or 1.4%, to $105.26.
April 17, 2007 |
The Coast Guard is removing Lockheed Martin Corp. and Northrop Grumman Corp. from their management role over a troubled $24-billion modernization program and may seek new bids for contracts for any incomplete projects. The deal has been criticized in recent investigations and on Capitol Hill for spiraling costs, design flaws and lax oversight.
January 26, 2007 |
With little letup in Pentagon spending, the nation's two largest defense contractors reported sharply higher fourth-quarter earnings and raised their profit outlooks for the year. Century City-based Northrop Grumman Corp., the nation's second-largest weapons developer, said Thursday that quarterly net income rose 37%. The results were fueled by a late-year flurry of contracts for military electronic equipment and federal information technology services. Earnings climbed to $453 million, or $1.
November 22, 2006 |
Lockheed Martin Corp. is protesting an Air Force contract worth as much as $15 billion to buy search-and-rescue helicopters from Boeing Co. "We believe the criteria used to evaluate were not applied uniformly," Lockheed spokesman Greg Caires said. A review by the Government Accountability Office "is essential for us to more fully understand the reasons the decision was made."
November 10, 2006 |
Boeing Co. on Thursday won the competition to build more than 100 search-and-rescue helicopters for the Air Force under a contract potentially worth $10 billion over a dozen years. The Chicago-based aerospace giant was a surprise winner over archrival Lockheed Martin Corp. and Sikorsky Aircraft Corp. to develop the combat search-and-rescue craft. The Air Force plans to use them to recover downed pilots and transport special-operations personnel into hostile areas.
October 4, 2006 |
The Federal Trade Commission said Tuesday that it had approved a joint venture between Lockheed Martin Corp. and Boeing Co. to launch satellites for the government, removing a final barrier to the long-delayed proposal. Although the commission concluded that the $1.
September 16, 2006 |
Northrop Grumman Corp. said Friday that it would not appeal NASA's surprising decision to award a multibillion-dollar contract to rival Lockheed Martin Corp. to build an Apollo-like capsule that would return humans to the moon. Last month, Northrop and teammate Boeing Co. lost the contract, potentially worth $8.1 billion over a dozen years, despite having played a key role in the development of the Apollo program in the 1960s. "We don't plan to protest," Northrop spokesman Brooks McKinney said.