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Business/Financial

Earnings Soar At L3Harris In First Quarter As COVID Impacts Ebb

By Cal Biesecker

Friday, April 30th, 2021

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Earnings Soar At L3Harris In First Quarter As COVID Impacts Ebb

L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

L3Harris Technologies [LHX] last Friday reported strong earnings in its first quarter due to gains across its business segments and fewer impairment charges related to the COVID-19 pandemic although sales remained relatively flat. Net income increased 140 percent to $466 million, $2.25 earnings per share (EPS), from $194 million (99 cents EPS) a year ago. Adjusted earnings, which exclude impacts from COVID and the divestiture of the former aviation security business, were up 7 percent to $862 million ($3.18 EPS),…

Congress

Kaine On Iranian Girls School Strike: “You Can Be Sure We’re Gonna Get The Answer To That One”

Sen. Timothy Kaine (D-Va.), the ranking member of the Senate Armed Services Committee (SASC) seapower panel, pledged on Tuesday that the Senate will get to the bottom of what happened […]

Congress

‘Right To Repair’ Reform In SASC’s FY ‘27 NDAA Sets “Government-Purpose Rights’ As Default

The “Right to Repair” provision secured in the Senate Armed Services Committee’s (SASC) version of the next defense policy bill would establish “government-purpose rights” as a default, requiring defense contractors […]

Advanced / Transformational Technology

Pentagon May Make ‘Tradeoffs’ For Low-Cost Autonomous Tech Without Reconciliation Funds, CTO Says

The Pentagon’s chief technology officer has said the department may need to make “tradeoffs” on certain capability priorities if Congress doesn’t pass a reconciliation with $350 billion in requested defense […]

Congress

SASC’s FY ‘27 NDAA Sticks With Army’s Plan For Legacy Aviation Procurement Cuts

The Senate Armed Services Committee’s (SASC) version of the next defense policy sticks to the Army’s proposed plan to cut procurement of its legacy aviation fleet, and does not authorize […]