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~~~~~~~~~~ Headline News By Nation U thru Z Latest News As Of July 28, 2009 ~~~~~~~~~~ |
| Headline News ~
United Kingdom Latest News As Of July 28, 2009 |
| Aerospace
United Kingdom 28
July 2009 |
| Aerospace
United Kingdom 28
July 2009 |
| Aerospace
United Kingdom 23
July 2009 |
| Aerospace
United Kingdom Rolls-Royce
announces Air New Zealand Trent 1000 orders |
| Aerospace
United Kingdom Rolls-Royce
wins $470M Trent order from Turkish flag carrier |
![]() Headline News ~ United Kingdom ~~~~~~~~~~ Henry Allingham Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace
United Kingdom It is with deep regret that the Royal Air Force has learned of Henry Allinghams death. Henry was a founder member of the Royal Air Force and his sad passing is a milestone in history. Henry
Allingham dies aged 113 - Saturday 18 July 2009 |
![]() Headline News ~ United Kingdom ~~~~~~~~~~ Henry Allingham leading the veterans parade along Blackpool promenade. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Headline News ~ United Kingdom ~~~~~~~~~~ Henry Allingham and the Chief of the Air Staff.. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
~~~~~~~~~~~~~~~~~~~~~~~~~~
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ Arrival at RIAT 2009 of an RAF Boeing E-3A Sentry AWACS Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace
United Kingdom Royal
International Air Tattoo 2009 |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ RIAT 2009. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ RAF Harrier Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ HRH Prince Michael of Kent and Chief of the Air Staff Air Chief Marshal Sir Glenn Torpy. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ RAF Westland Sikorsky Sea King Search & Rescue Helicopter Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ RAF Panavia Tornado Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ RAF Boeing CH-47D Chinook Helicopter Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Royal International Air Tattoo 2009 ~~~~~~~~~~ Flt Lt Goodman with "The Help for Heroes Cookbook" Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace United Kingdom |
| Aerospace
United Kingdom Royal Air Force Timeline 1918 ~ 1926 1
Apr 1918- The Royal Air Force and Women's Royal Air Force
are formed. |
![]() RAF Afghanistan ~~~~~~~~~~ NATOs Commander of Kandahar Airfield (COMKAF) - Air Commodore Andy Fryer. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace
United Kingdom A day in the life of Mayor of Kandahar Airfield Wednesday
15 July 2009 |
![]() Alternative career for Reading FC Captain? ~~~~~~~~~~ Graeme Murty recording his story. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace
United Kingdom Alternative
career for Reading FC Captain? |
![]() Alternative career for Reading FC Captain? ~~~~~~~~~~ Graeme Murty at the controls. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
![]() Alternative career for Reading FC Captain? ~~~~~~~~~~ Graeme Murty assisting with an Air Drop. Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace United Kingdom |
![]() Waddington International Air Show donates £96,000 to RAF Benevolent Fund ~~~~~~~~~~ G Photo: Royal Air Force / Ministry of Defense / Crown Copyright RAF/MoD/CC |
| Aerospace
United Kingdom Waddington International Air Show donates £96,000 to RAF Benevolent Fund Tuesday
14 July 2009 |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Air Department Harriers RN / MoD / CC |
| Aerospace
United Kingdom Harrier
celebrates 40 years |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ GR.7 Harrier RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Royal Navy Harriers RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ A Harrier landing aboard the Atlantic Conveyor, which was utilized to transport Six Wessex helicopters, 14 Harriers and five CH-47 Chinook helicopters during the Falklands War. Upon arrival, the Harriers were off loaded to the carriers. Two Argentine Air Force Super Etendard fighters launched Exocet missiles, which struck the Atlantic Conveyor, causing a fire which consumed the ship, all of the Wessex helicopters and all but one of the Chinooks ("Bravo November"). Declared unrecoverable, the ship was sunk by the British. RN / MoD / CC Informational Source: Wikipedia.Org |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ A formation of four Royal Navy Harriers in flight. RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Cockpit perspective of Harriers in formation. RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Sea Harrier FA2 taking off from a CVS Carrier. RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Night Harrier Launch RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Harrier Gr.7 over Afghanistan RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ British Aerospace Harrier. The Harrier was originally developed by Hawker Aircraft, creator of the Typhoon, Sea Fury, Hunter and Kestrel. RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Royal Navy Sea Harrier RN / MoD / CC |
![]() Harrier's 40th Anniversary ~~~~~~~~~~ Royal Navy Maintainers with the pilot of a Sea Harrier RN / MoD / CC |
| Headline
News ~ United States Latest News As Of July 28, 2009 |
![]() Aerospace United States Boeing Celebrates 45th Anniversary of CH-46 Sea Knight's first flight. Phrogs in flight... Boeing Photo |
| Headline News ~ United States Boeing Observes 45th
Anniversary of Sea Knight Helicopter 1st Flight |
| Headline News ~ United States July 28, 2009 2:10 AM
EDT |
![]() Aerospace United States Multinational
Alliance's 1st Boeing C-17 Joins Heavy Airlift Wing in
Hungary Boeing Photo |
| Headline News ~ United States Multinational
Alliance's 1st Boeing C-17 Joins Heavy Airlift Wing in
Hungary |
| Headline News ~ United States Boeing Delivers 400th
F/A-18E/F Super Hornet to US Navy |
| Headline News ~ United States Beck Tire
International Receives Lockheed Martin Star Supplier
Award |
| Headline News ~ United States Lockheed Martin
Awarded $142 Million Arrowhead Production Contract |
| Headline News ~ United States Lockheed Martin
Awarded $142 Million Arrowhead Production Contract |
| Headline News ~ United States Lockheed Martin Meets
Key Milestones For Navy Submarine Communications Program |
| Headline News ~ United States Lockheed Martin
Supports Forum On Environmental Observations |
| Headline News ~ United States Lockheed Martin
Agrees To Acquire Gyrocam Systems LLC These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to: (a) the risk that the transaction may close more slowly than expected or not at all; (b) the risk that the potential demand for strengthened or expanded service offerings arising out of the transaction may not materialize; and (c) other risks and uncertainties described from time to time in Lockheed Martin's Form 10-K, including under the caption Risk Factors, and other filings with the Securities and Exchange Commission. All information in this release is as of July 22, 2009. Lockheed Martin disclaims any duty to update forward-looking statements to reflect subsequent events, actual results or changes in expectations. |
Headline News ~ United StatesLockheed Martin Announces Second Quarter 2009 ResultsBethesda, MD, July 21st, 2009 --
Earnings Attachment (pdf) | Earnings Attachment (xls) | 8-k | Highlights | Webcast | Webcast Charts Lockheed Martin Corporation (NYSE: LMT) today reported second quarter 2009 net earnings of $734 million ($1.88 per diluted share), compared to $882 million ($2.15 per diluted share) in 2008. Net earnings in 2009 included higher pension expense as previously disclosed in our January 22, 2009 earnings release and in our 2008 Form 10-K. In the second quarter of 2009, the FAS/CAS pension adjustment was ($115) million, which decreased net earnings by $75 million ($0.19 per share). The second quarter of 2008 included a FAS/CAS pension adjustment of $32 million and an unusual gain of $85 million, which together increased net earnings by $77 million ($0.19 per share). Net sales for the second quarter of 2009 were $11.2 billion, compared to $11.0 billion in 2008. Cash from operations for the second quarter of 2009 was $1.1 billion, compared to $1.5 billion in 2008. "Our second quarter results reflect recent changes in program priorities undertaken by our U.S. Government customers as well as performance challenges in our IS&GS business segment," said Bob Stevens, Chairman, President and CEO. "While the operational strength demonstrated in Aeronautics, Electronic Systems, and Space Systems was not matched by IS&GS, we remain committed to setting and achieving high standards of operational excellence. We are applying additional resources to improve execution in this important business area. Despite these challenges, we remain committed to delivering innovative solutions for our customers as a global security company and driving shareholder value for our investors." Summary Reported Results and Outlook The following table presents the Corporations results for the periods referenced in accordance with generally accepted accounting principles (GAAP):
The following table and other sections of this press release contain forward-looking statements, which are based on the Corporation's current expectations. Actual results may differ materially from those projected. See the "Forward-Looking Statements" discussion contained in this press release.
The Corporation's updated outlook for 2009 diluted earnings per share incorporates the following revisions:
It is the Corporation's practice not to incorporate adjustments to its outlook for proposed acquisitions, divestitures, joint ventures, or other unusual activities until such transactions have been consummated. Balanced Cash Deployment Strategy The Corporation continued to execute its balanced cash deployment strategy during the second quarter by:
Segment Results The Corporation operates in four principal business segments: Electronic Systems; Information Systems & Global Services (IS&GS); Aeronautics; and Space Systems. The following table presents the operating results of the four business segments and reconciles these amounts to the Corporations consolidated financial results.
In our discussion of
comparative results, changes in net sales and operating
profit generally are expressed in terms of volume and/or
performance. Volume refers to increases (or
decreases) in sales resulting from varying production
activity levels, deliveries, or service levels on
individual contracts. Volume changes typically
include a corresponding change in operating profit based
on the estimated profit rate at completion for a
particular contract for design, development, and
production activities. Performance generally refers
to changes in contract profit booking rates. These
changes to our contracts for products usually relate to
profit recognition associated with revisions to total
estimated costs at completion of the contracts that
reflect improved (or deteriorated) operating or award fee
performance on a particular contract. Changes in
contract profit booking rates on contracts for products
are recognized by recording adjustments in the current
period for the inception-to-date effect of the changes on
current and prior periods. Recognition of the
inception-to-date adjustment in the current or prior
periods may affect the comparison of segment operating
results. Electronic Systems
Net sales for Electronic Systems decreased by 1% for the quarter and increased by 2% for the first six months of 2009 from the comparable 2008 periods. During the quarter, the decrease mainly was due to lower volume on air defense programs at Missiles & Fire Control (M&FC). This decrease partially was offset by growth in simulation and training activities at Platforms & Training (P&T) and in radar programs and surface naval warfare activities at Maritime Systems & Sensors (MS2). During the first six months of the year, the increase mainly was due to higher volume on tactical missile programs and fire control systems at M&FC and in simulation and training activities at P&T. The increase in simulation and training also included sales from the first quarter 2009 acquisition of Universal Systems and Technology, Inc. These increases partially were offset by declines in integrated defense technology programs at MS2. Operating profit for Electronic Systems decreased by 1% for the quarter and increased by 3% for the first six months of 2009 from the comparable 2008 periods. During the quarter, the decrease in operating profit mainly was due to lower volume on air defense programs at M&FC and the absence of favorable 2008 performance adjustments on integrated defense technology programs at MS2 in 2009. These decreases partially were offset by higher volume and improved performance in platform integration activities at P&T. During the first six months of the year, the increase in operating profit primarily was attributable to improved performance on platform integration activities and the benefit recognized in the first quarter of 2009 from favorably resolving a simulation and training contract matter at P&T. These increases partially were offset by declines in volume on integrated defense technology programs at MS2. Information Systems & Global Services
Net sales for IS&GS increased by 6% for the quarter and 8% for the first six months of 2009 from the comparable 2008 periods. In both periods, increases in Defense and Civil partially were offset by declines in Intelligence. Defense sales increased due to higher volume on mission and combat systems activities and readiness and stability operations. Civil increased mainly due to higher volume on enterprise civilian services. Intelligence sales declined slightly between periods. Operating profit for IS&GS decreased by 9% for the quarter and 2% for the first six months of 2009 from the comparable 2008 periods. During the second quarter, operating profit declines in Civil and Intelligence more than offset growth in Defense. The decrease in Civil primarily was attributable to the absence of a favorable 2008 performance adjustment on an enterprise civilian services program. The decrease in Intelligence was mainly due to lower volume and performance on security solutions activities. The increase in Defense mainly was due to volume and improved performance in mission and combat systems and readiness and stability operations. During the first six months of the year, operating profit declines in Civil and Intelligence more than offset growth in Defense. The decrease in Civil primarily was attributable to the absence in 2009 of a benefit recognized in the first quarter of 2008 for a contract restructuring and the second quarter 2008 performance adjustment discussed above, both of which occurred on an enterprise civilian services program. The decrease in Intelligence was mainly due to lower volume and performance on enterprise integration activities. The increase in Defense mainly was due to volume and improved performance in mission and combat systems and readiness and stability operations. The prior period amounts for IS&GS have been reclassified to conform to its current lines of business (Civil, Defense and Intelligence). The realignment had no impact on the segments operating results. Aeronautics
Net sales for Aeronautics increased by 7% for the quarter and 3% for the first six months of 2009 from the comparable 2008 periods. During the quarter, the increase in Combat Aircraft sales partially was offset by declines in Air Mobility and Other Aeronautics Programs. The increase in Combat Aircraft mainly was due to higher volume on F-35 and F-16 programs. The decrease in Air Mobility mainly was attributable to lower volume on C-130J support and C-5 programs. The decrease in Other Aeronautics Programs principally was due to lower volume on sustainment activities, which partially was offset by growth on advanced development programs. During the first six months of the year, sales increased in all three lines of business. The increase in Combat Aircraft mainly was due to higher volume on F-35 and F-16 programs, which more than offset lower volume on the F-22 program. The increase in Other Aeronautics Programs principally was due to growth on advanced development programs, which more than offset the lower volume on sustainment activities. Air Mobility sales increased slightly between periods. Operating profit for
Aeronautics increased by 9% for both the quarter and
first six months of 2009 from the comparable 2008
periods. In both periods, the growth in operating
profit primarily was due to increases in Combat Aircraft
and Air Mobility. The increase in Combat Aircraft
operating profit primarily was due to higher volume and
improved performance on the F-35 program and improved
performance on the F-22 program. These increases more
than offset declines in operating profit on F-16 programs
mainly due to the absence of favorable 2008 performance
adjustments in 2009. The increase in Air Mobility was
mainly attributable to improved performance on C-130
support activities and C-5 programs. Space Systems
Net sales for Space Systems decreased by 7% for the quarter and 3% for the first six months of 2009 from the comparable 2008 periods. During the quarter, declines in sales at Space Transportation and Satellites more than offset growth in Strategic & Defensive Missile Systems (S&DMS). The decrease in Space Transportation primarily was due to lower volume in commercial launch vehicle activities and on the Orion program in 2009. There were no commercial launches during the first six months of 2009. During the first six months of 2008, there was one commercial launch which occurred during the second quarter of the year. The sales decline in Satellites was due to lower volume in commercial satellite activities, which more than offset higher volume in government satellite activities. There were no commercial satellite deliveries during the first six months of 2009. In 2008, there was one commercial satellite delivery during the second quarter and two during the first six months of the year. S&DMS sales increased mainly due to higher volume on strategic missile programs. During the first six months of the year, declines in sales at Space Transportation and S&DMS more than offset growth in Satellites. The decrease in Space Transportation primarily was due to lower volume in commercial launch vehicle activities and on the Orion program in 2009. S&DMS sales decreased mainly due to lower volume on defensive missile programs, which more than offset growth in strategic missile programs. The sales growth in Satellites was due to higher volume in government satellite activities, which partially was offset by lower volume in commercial satellite activities. Operating profit for Space Systems decreased by 16% for the quarter and 13% for the first six months of 2009 from the comparable 2008 periods. During the quarter, Satellites operating profit decreased primarily due to the decline in commercial deliveries, which more than offset increases associated with the higher volume on government satellite activities. In Space Transportation the decrease mainly was attributable to volume on the Orion program and volume and performance on the space shuttles external tank program. The decrease in S&DMS primarily was attributable to lower volume on defensive missile programs. During the first six months of the year, Space Transportations operating profit decrease mainly was attributable to lower equity earnings on the United Launch Alliance joint venture and the absence in 2009 of a benefit recognized in 2008 from the successful negotiations of a terminated commercial launch vehicle contract. The decrease in S&DMS operating profit primarily was attributable to lower volume on defensive missile programs. In Satellites, the operating profit increase mainly was due to higher volume and improved performance on government satellite activities, which was partially offset by lower volume in commercial satellite activities. Unallocated Corporate Income (Expense), Net
Consistent with the manner in which the Corporations business segment operating performance is evaluated by senior management, certain items are excluded from the business segment results and included in "Unallocated corporate income (expense), net." See the Corporations 2008 Form 10-K for a description of "Unallocated corporate income (expense), net," including the FAS/CAS pension adjustment. The FAS/CAS pension adjustment (calculated as the difference between FAS 87 expense and the CAS cost amounts) resulted in an expense in 2009 compared to income in 2008 due to the negative actual return on plan assets in 2008 and a lower discount rate at December 31, 2008. This trend is consistent with the Corporations previously disclosed assumptions used to compute these amounts. For purposes of segment reporting, unusual items are included in "Unallocated corporate income (expense), net": 2009
2008
These items increased 2008 net earnings by $66 million ($0.16 per share) during the first six months of 2008. Income Taxes Our effective income tax rates were 30.4% and 31.1% for the quarter and six months ended June 28, 2009 and 32.4% and 32.5% for the quarter and six months ended June 29, 2008. These rates were lower than the statutory rate of 35% for all periods due to tax benefits for U.S. manufacturing activities and dividends related to our employee stock ownership plans. The effective tax rates for the second quarter and first six months of 2009 are lower than the comparable periods in 2008, primarily due to the partial elimination of a valuation allowance previously provided against certain foreign company deferred tax assets arising from carryforwards of unused tax benefits and the extension of the research and development (R&D) credit as a result of the enactment on October 3, 2008, of the Emergency Economic Stabilization Act (EESA) of 2008. Although EESA retroactively extended the R&D credit for two years from January 1, 2008 to December 31, 2009, we did not recognize the benefit until EESA became law in the fourth quarter of 2008. Headquartered in
Bethesda, Md., Lockheed Martin is a global security
company that employs about 146,000 people worldwide and
is principally engaged in the research, design,
development, manufacture, integration and sustainment of
advanced technology systems, products and services. The
Corporation reported 2008 sales of $42.7 billion. Conference
call: Lockheed Martin will webcast the earnings
conference call (listen-only mode) at 11:00 a.m. E.D.T.
on July 21, 2009. A live audio broadcast, including
relevant charts, will be available on the Investor
Relations page of the companys web site at: FORWARD-LOOKING STATEMENTS Statements in this release that are "forward-looking statements" are based on Lockheed Martins current expectations and assumptions. Forward-looking statements in this release include estimates of future sales, earnings and cash flow. These statements are not guarantees of future performance and are subject to risks and uncertainties. Actual results could differ materially due to factors such as: the availability of government funding for our products and services both domestically and internationally; changes in government and customer priorities and requirements (including changes to respond to the priorities of Congress and the Administration, budgetary constraints, and cost-cutting initiatives); the impact of economic recovery and stimulus plans and continued military operations in Iraq and Afghanistan on funding for existing defense programs; the award or termination of contracts; actual returns (or losses) on pension plan assets, interest and discount rates and other changes that may impact pension plan assumptions; changes in counter-party credit risk exposure; difficulties in developing and producing operationally advanced technology systems; the timing and customer acceptance of product deliveries; materials availability and performance by key suppliers, subcontractors and customers; charges from any future impairment reviews that may result in the recognition of losses and a reduction in the book value of goodwill or other long-term assets; the future impact of legislation, rulemaking, and changes in accounting, tax, defense procurement, or export policies; the future impact of acquisitions or divestitures, joint ventures or teaming arrangements; the outcome of legal proceedings and other contingencies (including lawsuits, government investigations or audits, and environmental remediation efforts); the competitive environment for the Corporations products and services; and economic, business and political conditions domestically and internationally. These are only some of the factors that may affect the forward-looking statements contained in this press release. For further information regarding risks and uncertainties associated with Lockheed Martin's business, please refer to the Corporation's SEC filings, including the "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Risk Factors," and "Legal Proceedings" sections of the Corporation's 2008 annual report on Form 10-K, which may be obtained at the Corporations website: http://www.lockheedmartin.com It is the Corporations policy to only update or reconfirm its financial projections by issuing a press release. The Corporation generally plans to provide a forward-looking outlook as part of its quarterly earnings release but reserves the right to provide an outlook at different intervals or to revise its practice in future periods. All information in this release is as of July 20, 2009. Lockheed Martin undertakes no duty to update any forward-looking statement to reflect subsequent events, actual results or changes in the Corporations expectations. We also disclaim any duty to comment upon or correct information that may be contained in reports published by investment analysts or others. NON-GAAP PERFORMANCE MEASURES The Corporation believes that reporting ROIC provides investors with greater visibility into how effectively Lockheed Martin uses the capital invested in its operations. The Corporation uses ROIC to evaluate multi-year investment decisions and as a long-term performance measure, and also uses ROIC as a factor in evaluating management performance for incentive compensation purposes. ROIC is not a measure of financial performance under generally accepted accounting principles, and may not be defined and calculated by other companies in the same manner. ROIC should not be considered in isolation or as an alternative to net earnings as an indicator of performance. The Corporation
calculates ROIC as follows:
1
Represents after-tax interest expense utilizing the
federal statutory rate of 35%. |
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| Headline News ~ United States New Lockheed
Martin-Built Military Communications Satellite Completes
Environmental Testing |
| Headline News ~ United States Lockheed Martin to
Upgrade U.S. Navy Submarine Communication Mast Antenna
Systems |
| Headline News ~ United States Lockheed Martin to
Develop Concept for New U.S. Navy Air and Missile Defense
Radar |
| Headline News ~ United States Lockheed Martin
Awarded Apache Performance Based Logistics Follow-On
Contract |
| Headline News ~ United States U.S. Navy Selects
Lockheed Martin to Continue Development of Secure
Information Sharing System |
| Headline News ~ United States Lockheed Martin DAGR
Rockets Successfully Fired From Airborne AH-6 Little
Bird, Strike Targets |
| Headline News ~ United States Lockheed Martin Unit
Achieves CMMI® Maturity Level 5 |
| Headline News ~ United States Lockheed Martin
Awarded Contracts to Continue Training for U.S. Air Force
and Air National Guard F-16 Pilots |
| Headline News ~ United States 18th Air Force
Commander C-130J Delivery Continues U.S. Air Force
Build-Up Of Super Hercules Fleet |
| Headline News ~ United States Lockheed Martin
Receives $60 Million Worldwide LANTIRN Depot Award |
![]() Aerospace United States Lockheed Martin EQ-36 Counterfire Target Acquisition Radar System Lockheed Martin Photo |
| Headline News ~ United States U.S. Army Receives
First Lockheed Martin EQ-36 Counterfire Target
Acquisition Radar System |
| Headline News ~ United States Lockheed Martin
Delivers 1,000th Vertical Launch ASROC Missile |
| Headline News ~ United States Lockheed Martin
Delivers 1,000th Vertical Launch ASROC Missile |
| Headline News ~ United States Lockheed Martin Wins
Role on U.S. Air Force's Europe Advisory and Assistance
Contract |
| Headline News ~ United States TERRORISM TAKEDOWN |
| Headline News ~ United States It's here!
WhiteKnightTwo arrives |
| Headline News ~ United States Elvis has arrived! |
| Headline News ~ United States Electric Ultralight |
| Headline News ~ United States Luck + Preparation =
Safety |
| Headline News ~ United States POP
goes the
question |
| Headline News ~ United States Garmin announces
G500, G3X |
| Headline News ~ United States Tecnam introduces
twin-engine P2006T |
| Headline News ~ United States ICON's amphibian
makes in-flight debut at Oshkosh |
| Headline News ~ United States Predator pioneers a
path to AirVenture 2009 |
| Headline News ~ United States See comedy sensation
Jeff Dunham Saturday |
| Headline News ~ United States Dick Rutan to receive
key to city |
![]() Aerospace United States The Airbus A380 makes its first visit to EAA AirVenture at Oshkosh, Wisconsin. The A380 is seen here with the RAF Red Arrows at the Farnborough Air Show in England. P. Masclet / Airbus Photo |
| Headline News ~ United States Just a sampling of
aircraft youll see no place else |
| Headline News ~ United States Sonex unveils new
single place jet |
| Headline News ~ United States EAA AirVenture 2009:
Change in the air and everywhere |
| Headline News ~ United States Group arrivals kick
off AirVenture |
![]() Aerospace United States British Airways Concorde G-BOAB in storage at London Heathrow. Adrian Pingstone / Arpingstone / Wikipedia.Org |
| Headline News ~ United States Remembering Concorde
at Oshkosh |
| Headline News ~ United States Listen to AirVenture
on EAA Radio |
| Headline News ~ United States Quality crop of
warbirds |
![]() Aerospace United States The fifth Boeing 787 Dreamliner flight test airplane has been unveiled sporting a special Boeing livery. Boeing Photo |
| Aerospace United
States 787 Dreamliner Flight
Test Airplane Painted in Special Boeing Livery |
![]() Aerospace United States The modified livery, which saves time and expense compared to the full Boeing livery, will remain on the airplane until the flight test program is completed and it is refurbished and delivered to a customer. Boeing Photo |
| Headline News ~ United States News as of July 24, 2009 |
| Headline News ~ United States Aerospace United States STS-127 Mission Status Reports 7
p.m. CDT Thursday, July 23, 2009 |
| A&M USA
"Live!" ~~~~~~~~~~ Latest News As Of July 24, 2009 ~~~~~~~~~~ STS-127 ~~~~~~~~~~ Payload
Transfer to Kibo Complete ~~~~~~~~~~ Crews
Work With Robotics, Prepare for Friday Spacewalk ~~~~~~~~~~ 7
p.m. CDT Thursday, July 23, 2009 STS-127 MCC Status Report #17 On
its inaugural operational use, the Japanese robotic arm
installed the first experiments and hardware on
Kibos new porch at the International Space Station.
~~~~~~~~~~ 6:30
a.m. CDT Thursday, July 23, 2009 Japans
Koichi Wakata will inaugurate the use of Kibos
robotic arm for scientific purposes today to install a
trio of components on the stations new front
porch. ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 8 With Earth
below, astronaut Christopher Cassidy participates in the
third spacewalk of the STS-127 mission. This was the
first of Cassidy's three scheduled spacewalks during the
16-day mission. ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 7 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 6 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 5 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 4 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 3 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 2 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 1 ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 8 Image
credit: NASA ~~~~~~~~~~ |
![]() ~~~~~~~~~~ STS-127 Flight Day 8 Image
credit: NASA ~~~~~~~~~~ |
![]() ~~~~~~~~~~ XCOR Lynx Wind Tunnel Tests at Dayton Lynx wind tunnel model at AFRL in Dayton, dye flow test. Photo: XCOR ~~~~~~~~~~ |
| Headline News ~ United States XCOR Aerospace Tests
Lynx Aerodynamic Design |
| Headline News ~ United States
~ Related Story From June, 2009 Monday,
June 22nd, 2009 |
| Headline News ~ United States Boeing Awarded
Production Contract for US Air Force AWACS Block 40/45
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| Headline News ~ United States Boeing Reports Second-Quarter Financial Results -- Second-quarter revenue rose 1 percent to $17.2 billion -- Earnings per share of $1.41 rose 22 percent -- Operating cash flow increased to $1.0 billion -- Backlog at $328 billion - nearly five times current annual revenues -- 787 side-of-body technical solution identified; schedule assessment ongoing CHICAGO, July 22 /PRNewswire-FirstCall/ --The Boeing Company's (NYSE: BA) second-quarter earnings per share increased 22 percent to $1.41 per share, as revenues rose 1 percent to $17.2 billion, driven by growth in defense programs and strong performance in defense and commercial airplanes (Table 1). Year-ago results included a $0.22 per share charge on the Airborne Early Warning & Control (AEW&C) program. Table 1. Summary Financial Results
Second Quarter First Half
(Millions, except -------------- ----------
per share data) 2009 2008 Change 2009 2008 Change
------------------ ---- ---- ---- ----
Revenues $17,154 $16,962 1% $33,656 $32,952 2%
Earnings From
Operations $1,529 $1,247 23% $2,554 $3,046 (16%)
Operating Margin 8.9% 7.4% 1.5Pts 7.6% 9.2% (1.6)Pts
Reported Net Income $998 $852 17% $1,608 $2,063 (22%)
Reported Earnings
per Share $1.41 $1.16 22% $2.27 $2.79 (19%)
Operating Cash Flow $1,001 ($251) NA $1,194 $1,682 (29%)
Revenues for the first six months of 2009 rose 2 percent to $33.7 billion. Earnings for the first half declined to $2.27 per share, including a $0.38 first-quarter impact from reductions to future twin-aisle production rates and delivery price escalation forecasts. Earnings guidance for 2009 remains unchanged between $4.70 and $5.00 per share. The 787 program is currently assessing schedule and financial implications from the previously announced requirement to reinforce an area within the side-of-body joint. The company expects to issue a new 787 schedule during the third quarter, at which time earnings guidance will be reevaluated. "Our continued focus on productivity improvements and disciplined cash management drove solid overall results for the quarter," said Boeing Chairman, President and Chief Executive Officer Jim McNerney. "While market and development program execution challenges remain with us, we are doing what's necessary to emerge from the current economic environment as a stronger company that's better positioned to grow and improve its financial performance over time." |