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$AAXN announced the appointment of two key additions to the finance team: Jim Zito as VP of Accounting and Andrea James as VP of Investor Relations. James joins Axon after most recently supporting investor relations at $TSLA, while Zito was earlier Global Controller for $GE Healthcare Digital and Healthcare Partners.
$RTN expects to see higher productivity and operational efficiencies at missiles in 2018. This is a broad portfolio. The company has seen growth in development and classified programs but there are slight impacts to margin. Overall, $RTN is pleased with the portfolio and the mix of programs and is optimistic on the missiles business growth.
$RTN's international sales were up 8.4% in 4Q17. In early January, the company booked a new direct commercial contract for Patriot capabilities worth over $1.5Bil. Domestic sales were up 7.9% in 4Q17. In the missile business, bookings grew 23% YoY, mainly driven by an increase in precision weapon contracts.
During 4Q17, net sales in $RTN’s Integrated Defense Systems segment increased 6% versus 4Q16. Intelligence, Information and Services segment net sales grew 4%. The Missile Systems segment posted an increase of 15% while Space and Airborne Systems posted a growth of 4% in net sales. Forcepoint net sales grew 9% versus 4Q16.
$RTN reported a 29% decrease in 4Q17 earnings. Net income attributable to Raytheon was $393MM or $1.35 per share compared to $555MM or $1.88 per share in 4Q16. 4Q17 results included an unfavorable $0.59 provisional tax-related impact due to the enactment of the Tax Cuts and Jobs Act. Net sales grew 8% to $6.8Bil versus last year.
$MSI signed a contract with the Ministry of Internal Affairs of the Republic of Moldova for the expansion of their mission-critical TETRA communications network. Within the framework of the contract, $MSI will extend the existing TETRA digital radio network and build a nationwide TETRA network for the Moldovan police.
An undisclosed member of the 14-nation group that own the combat-proven Patriot Integrated Air and Missile Defense System has awarded $RTN a direct commercial sales contract worth more than $1.5Bil for additional capability. The contract was awarded on Jan 4, 2018.
Open source software provider $RHT, which recently announced partnerships with $BABA and SoftBank, saw a surge in its 3Q18 profit, driven by higher subscriptions and higher revenue. Profit surged 49% to $101.3MM or $0.54 per share, up from $68MM or $0.37 a year earlier. Revenue rose 22% to $748MM. On an adjusted basis, $RHT earned $0.73 per share.
$ASB said Breck Hanson, vice chairman of the bank and Chicago market president, will retire from his position on December 31, 2017. Rod A. Murray, senior vice president, Commercial Banking business segment leader, was named as Chicago market president.
$RTN has completed Lot 1 production of the Small Diameter Bomb II, a new weapon that will give fighter pilots the ability to destroy moving targets at any time and in all-weather conditions. The US Air Force has also contracted with $RTN to produce Lots 2 and 3. $RTN is producing SDB II bombs at its manufacturing facility in Tucson, Arizona.
$RTN's subsidiary Raytheon BBN Technologies will help military planners understand the causes for conflict using tools developed with artificial intelligence and machine learning techniques. The work is being done under an award from the Defense Advanced Research Projects Agency's Causal Exploration of Complex Operational Environments program.
$RTN and Pivotal Software, Inc., announced that Raytheon has joined the Pivotal Ready Partner Program to assist the Department of Defense to develop software capabilities to more rapidly bring new technology to the military. This will help the DoD migrate legacy applications to the cloud and accelerate software development and delivery timelines.
$RTN said the US Air Force completed a series of successful flight tests of its next-generation Military-code GPS using an $RTN receiver onboard a B-2 Spirit at Edwards Air Force Base, California. This first ever M-code test onboard the B-2 is an important milestone for the US Government-led GPS Modernization effort.
$RTN said a Raytheon BBN Technologies-led team is developing prototype cryogenic memory arrays and a scalable control architecture under an award from the Intelligence Advanced Research Projects Activity Cryogenic Computing Complexity program. Raytheon BBN is the prime contractor leading a team that includes New York University, among others.