Raytheon (NYSE: RTN) Awarded up to $138 Million for Information Assurance and Network Operations
FALLS CHURCH, Va., May 5, 2009 - The Defense Information Systems Agency of the Department of Defense awarded Raytheon Company (NYSE: RTN) an information assurance and network operations contract worth up to $138 million.
The contract guarantees Raytheon $23.2 million for one year. Four options could extend the contract to five years for a potential $138 million.Under the Multinational Information Sharing contract, Raytheon will design, transition and operate a secure voice, video and data-information sharing and collaboration environment for U.S. and coalition forces.
Raytheon's multinational information sharing solution provides U.S. and coalition forces the ability to share information across a flexible and secure environment. The system connects disparate networks into a single, integrated network that enables compartmented, multilevel information sharing.
"Using commercial off-the-shelf products, Raytheon created a system that reduces waste and redundancy and speeds access to information. Actions that once took hours or days to be completed can happen in a matter of seconds," said Andy Zogg, vice president, Raytheon Network Centric Systems' Command and Control Systems. "That kind of efficient, open architecture system results from Raytheon's years as an industry leader in systems integration and international information sharing solutions."
The Raytheon team will also enhance, consolidate and sustain existing multinational information sharing networks while developing the new system.
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services.
With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
Contact: MB Hodgkiss 508.490.2607 SOURCE Raytheon Company
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Tuesday, May 5, 2009
Defense Stock Company Profile for Optex Systems Holdings, Inc. (OTCBB: OPXS)
Defense Stock Company Profile for Optex Systems Holdings, Inc. (OTCBB: OPXS)
Point Roberts May 5, 2009 - http://www.investorideas.com/ and its leading defense stocks investor portal, Homelanddefensestocks.com, add Optex Systems Holdings, Inc. (OTCBB: OPXS) to its directory of company profiles by industry sectors.
Optex Systems Holdings, Inc., (OTCBB:OPXS ) through its wholly-owned subsidiary, Optex Systems, Inc. manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles and have been selected for installation on the Future Combat Systems(FCS) Stryker vehicle. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN).
Read the full company profile:
Visit Optex Systems Holdings, Inc. (OTCBB: OPXS) Company Profile: http://www.investorideas.com/CO/OPTEX/
The company profiles consist of the company name, logo, contact info , sector, executive summary, products and services summary, key executives, keywords, and if publicly traded- stock symbol and exchange.
Optex Systems Holdings, Inc. (OTCBB: OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/
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Point Roberts May 5, 2009 - http://www.investorideas.com/ and its leading defense stocks investor portal, Homelanddefensestocks.com, add Optex Systems Holdings, Inc. (OTCBB: OPXS) to its directory of company profiles by industry sectors.
Optex Systems Holdings, Inc., (OTCBB:OPXS ) through its wholly-owned subsidiary, Optex Systems, Inc. manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles and have been selected for installation on the Future Combat Systems(FCS) Stryker vehicle. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN).
Read the full company profile:
Visit Optex Systems Holdings, Inc. (OTCBB: OPXS) Company Profile: http://www.investorideas.com/CO/OPTEX/
The company profiles consist of the company name, logo, contact info , sector, executive summary, products and services summary, key executives, keywords, and if publicly traded- stock symbol and exchange.
Optex Systems Holdings, Inc. (OTCBB: OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/
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Monday, May 4, 2009
Defense Supplier, Optex Systems, Manufacturer of Optical Sighting Systems, Now Trading On OTC (OTCBB: OPXS)
Defense Supplier, Optex Systems, Manufacturer of Optical Sighting Systems, Now Trading On OTC (OTCBB: OPXS)
RICHARDSON, TX -- May 4, 2009 -- Optex Systems (Optex) (OTC BB:OPXS.OB), a subsidiary of Optex Systems Holdings Inc., a manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, announced today the March 30th completion of its share exchange with publicly held Sustut Exploration (OTC BB:SSTX.OB). As a result of the transaction, Optex has become a publicly traded company and has applied for, and received, a ticker symbol change. Effective with the start of trading on May 5, 2009, Optex will trade under the ticker symbol (OTC BB:OPXS.OB). The business of Optex Systems is now carried on as the sole line of business.
The ISO 9001:2008 certified company manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Optex was privately held from inception until being acquired by publicly traded Irvine Sensors Corp. (NasdaqCM:IRSN - News) on December 30, 2005 and was operated as a wholly owned subsidiary. On October 14, 2008, Optex Systems Inc. (Delaware), of which the Longview Fund LP was a majority shareholder, acquired Optex Systems. On February 20, 2009, Longview Fund conveyed its ownership interests in the Company to Sileas Corp., an entity owned by three of the Company's officers.
Ronald F. Richards, Chairman of Optex, commented, "We have reached a significant milestone in our company's history. I want to personally thank everyone who has made this possible including each and every one of our valuable and talented employees." Mr. Richards continued, "For those investors new to our story, I hope to continue to update you on the latest developments as we expand our operations. We have a rich history delivering high volume products, under multi-year contracts, to large defense contractors. Optex has the reputation and credibility with those customers as a strategic supplier. These long-term, stable government contracts have typically translated into steady growth for our Company. For fiscal year 2008 we recorded revenues of $20.0 million, as compared to $15.4 million in fiscal year 2007, which translated into a year over year increase of $4.6 million or 29.9%."
ABOUT OPTEX SYSTEMS
Optex, which was founded in 1987, is a Richardson, Texas-based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.
Safe Harbor Statement
This Press Release and other written reports and oral statements made from time to time by the Company may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. You can identify these forward-looking statements by their use of words such as "expects," "plans," "will," "estimates," "forecasts," "projects" and other words of similar meaning. You can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address the Company's growth strategy, financial results and product and development programs. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially.
The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.
Contact:
Howard Gostfrand
American Capital Ventures
(p) 305.918.7000
(e) Email Contact
Source: Optex Systems
Optex Systems Holdings Inc (OTCBB:OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/ Disclaimer/Discloscure: click here
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RICHARDSON, TX -- May 4, 2009 -- Optex Systems (Optex) (OTC BB:OPXS.OB), a subsidiary of Optex Systems Holdings Inc., a manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, announced today the March 30th completion of its share exchange with publicly held Sustut Exploration (OTC BB:SSTX.OB). As a result of the transaction, Optex has become a publicly traded company and has applied for, and received, a ticker symbol change. Effective with the start of trading on May 5, 2009, Optex will trade under the ticker symbol (OTC BB:OPXS.OB). The business of Optex Systems is now carried on as the sole line of business.
The ISO 9001:2008 certified company manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Optex was privately held from inception until being acquired by publicly traded Irvine Sensors Corp. (NasdaqCM:IRSN - News) on December 30, 2005 and was operated as a wholly owned subsidiary. On October 14, 2008, Optex Systems Inc. (Delaware), of which the Longview Fund LP was a majority shareholder, acquired Optex Systems. On February 20, 2009, Longview Fund conveyed its ownership interests in the Company to Sileas Corp., an entity owned by three of the Company's officers.
Ronald F. Richards, Chairman of Optex, commented, "We have reached a significant milestone in our company's history. I want to personally thank everyone who has made this possible including each and every one of our valuable and talented employees." Mr. Richards continued, "For those investors new to our story, I hope to continue to update you on the latest developments as we expand our operations. We have a rich history delivering high volume products, under multi-year contracts, to large defense contractors. Optex has the reputation and credibility with those customers as a strategic supplier. These long-term, stable government contracts have typically translated into steady growth for our Company. For fiscal year 2008 we recorded revenues of $20.0 million, as compared to $15.4 million in fiscal year 2007, which translated into a year over year increase of $4.6 million or 29.9%."
ABOUT OPTEX SYSTEMS
Optex, which was founded in 1987, is a Richardson, Texas-based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.
Safe Harbor Statement
This Press Release and other written reports and oral statements made from time to time by the Company may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. You can identify these forward-looking statements by their use of words such as "expects," "plans," "will," "estimates," "forecasts," "projects" and other words of similar meaning. You can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address the Company's growth strategy, financial results and product and development programs. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially.
The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.
Contact:
Howard Gostfrand
American Capital Ventures
(p) 305.918.7000
(e) Email Contact
Source: Optex Systems
Optex Systems Holdings Inc (OTCBB:OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/ Disclaimer/Discloscure: click here
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Friday, May 1, 2009
New Defense stock listed on Investorideas.com -Optex Systems Holdings, Inc, (OTCBB:OPXS)
Optex Systems Holdings, Inc, (OTCBB:OPXS) through its wholly-owned subsidiary, Optex Systems, Inc. manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles and have been selected for installation on the Future Combat Systems(FCS) Stryker vehicle. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN)
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Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN)
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Force Dynamics, LLC Selected To Continue in M-ATV Competition
Force Dynamics, LLC Selected To Continue in M-ATV Competition
LADSON, S.C May 1 2009 Force Dynamics, LLC, a joint venture between Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems, has been awarded an indefinite-delivery, indefinite-quantity (IDIQ) contract for the M-ATV Cheetah, a lightweight, high-mobility vehicle, by the U.S. Army Tank-Automotive and Armaments Command’s (TACOM) Mine Resistant Ambush Protected All Terrain Vehicle (M-ATV) program. The IDIQ contract includes an initial order for three vehicles for testing and evaluation and it enables Force Dynamics to compete for future M-ATV vehicle orders.
Previously, Force Dynamics delivered two Production Representative Vehicles (PRVs) to undergo initial survivability and mobility screening as part of the M-ATV solicitation. During this new phase of the evaluation, Force Dynamics will deliver additional PRVs for continued testing.
TACOM has indicated that if an M-ATV vehicle submission can meet all of the inspection requirements, survivability threshold and mobility tests that the vehicle will be given a “fair opportunity” for selection for a production delivery order.
Damon Walsh, executive vice president and managing director of Force Dynamics, commented ”We are very pleased that the Cheetah has been selected to continue to compete for this important and urgently needed program. This is a strong validation of the M-ATV Cheetah’s high level of mobility, combined with MRAP-I level protection. We believe that the M-ATV Cheetah provides the war fighter with the highest level of performance. In order to be as prepared as possible, Force Dynamics has already initiated production of the M-ATV Cheetah. We are fully ready to respond to the customer’s demand for these critical vehicles.”
Mike Cannon, chairman of the board of Force Dynamics and vice president, Ground Combat Systems, at General Dynamics Land Systems, commented “This is an important milestone for Force Dynamics in the M-ATV competition. Our submission offers superior mobility and survivability, and the complementary strengths of this partnership offer the best in production capability, service and support, and research and development.”
“Our M-ATV effort is backed by world-class manufacturing abilities and logistical support that will allow us to successfully deliver on the aggressive procurement schedule outlined by TACOM and to provide total lifecycle support for the vehicle,” Cannon said.
The Force Dynamics joint venture is supplemented by a cohesive partnership of world-class OEMs and an award under this program would create and sustain thousands of skilled employment opportunities in several states, including South Carolina, North Carolina, Alabama and Michigan.
Force Protection and General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), have successfully delivered more than 3,000 Cougar MRAP vehicles to the customer.
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. Force Protection’s specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). Force Protection also is the developer and manufacturer of ForceArmor™, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. Force Protection is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information about Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics Corp.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
Force Protection, Inc. Safe Harbor Language
This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, the ultimate selection of Force Dynamics under the M-ATV Program, our ability to fulfill any order for the M-ATV Cheetah on a timely basis, our ability to effectively manage the risks in our business, the reaction of the marketplace to the foregoing and other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s 2008 Annual Report on Form 10-K for the year ended December 31, 2008.
Contacts FPI:Force Protection, Inc.Tommy Pruitt, 843-574-3866Senior Communications DirectororGDLS:GDLSPeter Keating, 586-825-7930VP, Communications
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LADSON, S.C May 1 2009 Force Dynamics, LLC, a joint venture between Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems, has been awarded an indefinite-delivery, indefinite-quantity (IDIQ) contract for the M-ATV Cheetah, a lightweight, high-mobility vehicle, by the U.S. Army Tank-Automotive and Armaments Command’s (TACOM) Mine Resistant Ambush Protected All Terrain Vehicle (M-ATV) program. The IDIQ contract includes an initial order for three vehicles for testing and evaluation and it enables Force Dynamics to compete for future M-ATV vehicle orders.
Previously, Force Dynamics delivered two Production Representative Vehicles (PRVs) to undergo initial survivability and mobility screening as part of the M-ATV solicitation. During this new phase of the evaluation, Force Dynamics will deliver additional PRVs for continued testing.
TACOM has indicated that if an M-ATV vehicle submission can meet all of the inspection requirements, survivability threshold and mobility tests that the vehicle will be given a “fair opportunity” for selection for a production delivery order.
Damon Walsh, executive vice president and managing director of Force Dynamics, commented ”We are very pleased that the Cheetah has been selected to continue to compete for this important and urgently needed program. This is a strong validation of the M-ATV Cheetah’s high level of mobility, combined with MRAP-I level protection. We believe that the M-ATV Cheetah provides the war fighter with the highest level of performance. In order to be as prepared as possible, Force Dynamics has already initiated production of the M-ATV Cheetah. We are fully ready to respond to the customer’s demand for these critical vehicles.”
Mike Cannon, chairman of the board of Force Dynamics and vice president, Ground Combat Systems, at General Dynamics Land Systems, commented “This is an important milestone for Force Dynamics in the M-ATV competition. Our submission offers superior mobility and survivability, and the complementary strengths of this partnership offer the best in production capability, service and support, and research and development.”
“Our M-ATV effort is backed by world-class manufacturing abilities and logistical support that will allow us to successfully deliver on the aggressive procurement schedule outlined by TACOM and to provide total lifecycle support for the vehicle,” Cannon said.
The Force Dynamics joint venture is supplemented by a cohesive partnership of world-class OEMs and an award under this program would create and sustain thousands of skilled employment opportunities in several states, including South Carolina, North Carolina, Alabama and Michigan.
Force Protection and General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), have successfully delivered more than 3,000 Cougar MRAP vehicles to the customer.
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. Force Protection’s specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). Force Protection also is the developer and manufacturer of ForceArmor™, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. Force Protection is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information about Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics Corp.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
Force Protection, Inc. Safe Harbor Language
This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, the ultimate selection of Force Dynamics under the M-ATV Program, our ability to fulfill any order for the M-ATV Cheetah on a timely basis, our ability to effectively manage the risks in our business, the reaction of the marketplace to the foregoing and other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s 2008 Annual Report on Form 10-K for the year ended December 31, 2008.
Contacts FPI:Force Protection, Inc.Tommy Pruitt, 843-574-3866Senior Communications DirectororGDLS:GDLSPeter Keating, 586-825-7930VP, Communications
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Thursday, April 30, 2009
Investorideas.com founder and President Dawn Van Zant comments on Defense Stocks in Recent Article in South China Morning Post
Fire power -Military spending in the US over the past decade backs up the assertion of analysts that the industry will continue to be resilient, especially with continuing commitments to conflicts in Iraq and Afghanistan
Investorideas.com founder and President Dawn Van Zant comments on Defense Stocks in Recent Article in South China Morning Post
http://www.scmp.com/
DEFENCE INVESTMENTS
Ajay Shamdasani Apr 28, 2009
As the United States continues to expand its war on terror and looks to counter other global security risks - such as nuclear proliferation and cyber-warfare - the defence industry is expected to be a solid investment tool for years to come, analysts predict http://www.scmp.com/portal/site/SCMP/menuitem.2c913216495213d5df646910cba0a0a0/?vgnextoid=aed7245bbf2b0210VgnVCM100000360a0a0aRCRD&vgnextfmt=teaser&ss=Specials&s=Home&specName=Net+Worth+%28June+2008%29
Research defense stocks with the global defense stocks directory at Investorideas.com
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Investorideas.com founder and President Dawn Van Zant comments on Defense Stocks in Recent Article in South China Morning Post
http://www.scmp.com/
DEFENCE INVESTMENTS
Ajay Shamdasani Apr 28, 2009
As the United States continues to expand its war on terror and looks to counter other global security risks - such as nuclear proliferation and cyber-warfare - the defence industry is expected to be a solid investment tool for years to come, analysts predict http://www.scmp.com/portal/site/SCMP/menuitem.2c913216495213d5df646910cba0a0a0/?vgnextoid=aed7245bbf2b0210VgnVCM100000360a0a0aRCRD&vgnextfmt=teaser&ss=Specials&s=Home&specName=Net+Worth+%28June+2008%29
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Tuesday, April 28, 2009
Defense Stock News - Ceradyne, Inc. Reports First-Quarter 2009 Financial Results
Defense Stock News - Ceradyne, Inc. Reports First-Quarter 2009 Financial Results
COSTA MESA, Calif.--April 28 --Ceradyne, Inc. (Nasdaq: CRDN) today reported lower than anticipated financial results for the first quarter ended March 31, 2009. The Company noted that despite the disappointing first quarter, it currently expects that full-year 2009 results will fall within previously announced guidance regarding sales and earnings per share.
Sales for first-quarter 2009 were $99.8 million, compared with $188.5 million in first-quarter 2008. Net income for first-quarter 2009 decreased to $0.7 million, or $0.03 per fully diluted share, compared to $32.4 million, or $1.18 per fully diluted share, in first-quarter 2008. These results include pre-tax non-cash interest expense of $1.0 million and $0.9 million for the first quarter of 2009 and 2008, respectively, due to the change in accounting for convertible debt which reduced earnings per share by $.02 in each quarter. Fully diluted average shares outstanding for first-quarter 2009 were 26,033,194 compared to 27,406,500 in the same period in 2008.
Gross profit margin was 23.0% of net sales in first-quarter 2009, compared to 37.9% in first-quarter 2008. The provision for income taxes was 39.8% in first-quarter 2009, compared to 36.2% in first-quarter 2008.
New orders for first-quarter 2009 were $150.7 million, compared to $211.8 million for the same period last year. Total order backlog as of March 31, 2009 was $177.2 million, compared to $262.7 million at March 31, 2008.
Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: “Although we had stated and continue to believe that the first quarter of 2009 would be the weakest quarter of the year, nonetheless, we were disappointed in the above reported results and are taking actions to reduce our current operating costs without affecting our future operations, which will be dependent on increasing solar energy related business, new product introductions as well as opportunities in our current business lines, such as military ballistic protection, and newer industrial applications particularly related to oil drilling using our advanced technical ceramics.
“Over the past 15 months, we have reduced our headcount in the United States by approximately 592, or 33%. The bulk of the reductions have been in our California and Kentucky operations, primarily related to military ceramic body armor as well as certain non-defense areas such as automobile/diesel.
“In Europe, where we have seen further reductions in our industrial ceramic business, we have been reducing our costs and will continue to do so throughout 2009. An example of this includes ‘short work weeks’ at ESK Ceramics utilizing German and French government subsidies. We are also in the process of evaluating more permanent headcount reductions as well as the closure of a manufacturing facility.
“Our strong cash position and balance sheet will allow us to continue our previously announced $22 million expansion of our photovoltaic solar cell related ceramic crucible capacity in China, as well as maintaining our R&D activities in Germany and the U.S. We also are continuing our efforts to identify and implement appropriate acquisitions in both defense and non-defense markets.
“On March 31st, we received our first XSAPI production delivery order of approximately $77 million issued against the $2.37 billion 5-year ID/IQ (Indefinite Delivery/Indefinite Quantity) award announced earlier in October 2008. We began shipping this XSAPI delivery order this month and expect to complete shipments this year.
“In February, we had provided 2009 guidance of a sales range of $465 million to $500 million with earnings of $1.60 to $2.00 per fully diluted share. Although the XSAPI order was issued later than originally anticipated with as yet no additional side plate (‘X’ threat) releases, and despite the downturn in our European industrial advanced technical ceramic markets, at this time we continue to reiterate our February guidance with a higher probability of being at the low end of the range for all of 2009.
“Our management is focused on the challenges of the global economic downturn. Our plan is to continue to ‘tighten our belt’ without compromising our strategic goals and emerge from this recession as a more efficient company. Our strong balance sheet and positive cash flow of $10.5 million in the first quarter of 2009 will provide the financial wherewithal to carry out our plans.”
Ceradyne will host a conference call today at 8:00 a.m. PDT (11:00 a.m. EDT) to review the financial results for the quarter ended March 31, 2009. To participate in the teleconference, please call toll free 877-717-3046 (or 706-634-6364 for international callers). Investors or other interested parties may listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. These web sites will also host an archive of the teleconference. A telephonic playback will be available beginning at 11:00 a.m. PDT today through 9:00 p.m. PDT on April 30, 2009. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 96359101.
Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information can be found at the Company’s web site: www.ceradyne.com.
Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date thereof.
Full news and financial tables - www.ceradyne.com.
Ceradyne, Inc.Jerrold J. PellizzonChief Financial Officer(714) 549-0421orSilverman Heller AssociatesPhil Bourdillon/Gene Heller(310) 208-2550
Research defense stocks with the global defense stocks directory at Investorideas.com
click here:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
COSTA MESA, Calif.--April 28 --Ceradyne, Inc. (Nasdaq: CRDN) today reported lower than anticipated financial results for the first quarter ended March 31, 2009. The Company noted that despite the disappointing first quarter, it currently expects that full-year 2009 results will fall within previously announced guidance regarding sales and earnings per share.
Sales for first-quarter 2009 were $99.8 million, compared with $188.5 million in first-quarter 2008. Net income for first-quarter 2009 decreased to $0.7 million, or $0.03 per fully diluted share, compared to $32.4 million, or $1.18 per fully diluted share, in first-quarter 2008. These results include pre-tax non-cash interest expense of $1.0 million and $0.9 million for the first quarter of 2009 and 2008, respectively, due to the change in accounting for convertible debt which reduced earnings per share by $.02 in each quarter. Fully diluted average shares outstanding for first-quarter 2009 were 26,033,194 compared to 27,406,500 in the same period in 2008.
Gross profit margin was 23.0% of net sales in first-quarter 2009, compared to 37.9% in first-quarter 2008. The provision for income taxes was 39.8% in first-quarter 2009, compared to 36.2% in first-quarter 2008.
New orders for first-quarter 2009 were $150.7 million, compared to $211.8 million for the same period last year. Total order backlog as of March 31, 2009 was $177.2 million, compared to $262.7 million at March 31, 2008.
Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: “Although we had stated and continue to believe that the first quarter of 2009 would be the weakest quarter of the year, nonetheless, we were disappointed in the above reported results and are taking actions to reduce our current operating costs without affecting our future operations, which will be dependent on increasing solar energy related business, new product introductions as well as opportunities in our current business lines, such as military ballistic protection, and newer industrial applications particularly related to oil drilling using our advanced technical ceramics.
“Over the past 15 months, we have reduced our headcount in the United States by approximately 592, or 33%. The bulk of the reductions have been in our California and Kentucky operations, primarily related to military ceramic body armor as well as certain non-defense areas such as automobile/diesel.
“In Europe, where we have seen further reductions in our industrial ceramic business, we have been reducing our costs and will continue to do so throughout 2009. An example of this includes ‘short work weeks’ at ESK Ceramics utilizing German and French government subsidies. We are also in the process of evaluating more permanent headcount reductions as well as the closure of a manufacturing facility.
“Our strong cash position and balance sheet will allow us to continue our previously announced $22 million expansion of our photovoltaic solar cell related ceramic crucible capacity in China, as well as maintaining our R&D activities in Germany and the U.S. We also are continuing our efforts to identify and implement appropriate acquisitions in both defense and non-defense markets.
“On March 31st, we received our first XSAPI production delivery order of approximately $77 million issued against the $2.37 billion 5-year ID/IQ (Indefinite Delivery/Indefinite Quantity) award announced earlier in October 2008. We began shipping this XSAPI delivery order this month and expect to complete shipments this year.
“In February, we had provided 2009 guidance of a sales range of $465 million to $500 million with earnings of $1.60 to $2.00 per fully diluted share. Although the XSAPI order was issued later than originally anticipated with as yet no additional side plate (‘X’ threat) releases, and despite the downturn in our European industrial advanced technical ceramic markets, at this time we continue to reiterate our February guidance with a higher probability of being at the low end of the range for all of 2009.
“Our management is focused on the challenges of the global economic downturn. Our plan is to continue to ‘tighten our belt’ without compromising our strategic goals and emerge from this recession as a more efficient company. Our strong balance sheet and positive cash flow of $10.5 million in the first quarter of 2009 will provide the financial wherewithal to carry out our plans.”
Ceradyne will host a conference call today at 8:00 a.m. PDT (11:00 a.m. EDT) to review the financial results for the quarter ended March 31, 2009. To participate in the teleconference, please call toll free 877-717-3046 (or 706-634-6364 for international callers). Investors or other interested parties may listen to the teleconference live via the Internet at www.ceradyne.com or www.earnings.com. These web sites will also host an archive of the teleconference. A telephonic playback will be available beginning at 11:00 a.m. PDT today through 9:00 p.m. PDT on April 30, 2009. The playback can be accessed by calling 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 96359101.
Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information can be found at the Company’s web site: www.ceradyne.com.
Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date thereof.
Full news and financial tables - www.ceradyne.com.
Ceradyne, Inc.Jerrold J. PellizzonChief Financial Officer(714) 549-0421orSilverman Heller AssociatesPhil Bourdillon/Gene Heller(310) 208-2550
Research defense stocks with the global defense stocks directory at Investorideas.com
click here:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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