Rapid Fire Oct. 25, 2012: Euronaval 2012

Oct 25, 2012 10:30 UTC by Defense Industry Daily staff
  • The Euronaval tradeshow is taking place this week in Paris, France. They publish a daily bilingual wrap-up, here is yesterday’s [PDF].
  • Lockheed Martin’s Q3 2012 sales decreased by 2% Y/Y to $11.87B, a smaller decrease than reported by Northrop Grumman or Boeing BDS for the same period. Electronic Systems grew and actually passed Aeronautics to become the largest segment by revenue.
  • Raytheon’s Q3 sales are down 1% to $6.05B. Integrated Defense Systems (IDS) saw the best topline performance among their divisions. The backlog remains stable around $35B.
  • Contrarily to other prime contractors, General Dynamics’ revenues for the quarter were up 1% to $7.93B, driven by a +30% surge in the Aerospace segment that more than compensated declining combat and information systems revenue. However their total backlog has lost about $7B from a year ago.

  • Germany’s military are finding reform painful. Deutsche Welle.

  • Though Germany and France have been making noise about possibly sending some form of military presence or assistance in Mali to counter AQIM, they expect the African Union to do the heavy lifting. A meeting of African foreign ministers took place yesterday to discuss what it would take. AUC | AP | Le Figaro [in French].

  • Renault Trucks Defense (part of Volvo since 2001) finalized its acquisition of Panhard for 62.5 million euros (about $81M). La Tribune [in French].

  • India’s Business Standard saw a copy of a report issued by the Controller of Defence Accounts (CDA) that shows tensions between the Army and the Ministry of Defence. Things get surreal when the majority of the irregularities denounced by the auditors are centered in the Northern Command for purchases… of milk.

  • This picture of North Korean dictator Kim Jong-un is begging for a caption contest. Apart from apparently enjoying female groupies in military uniforms, little is still known about him since he replaced Kim Jong-Il late last year.

    • Categories: Africa - Other, Conferences & Events, Corporate Financials, Daily Rapid Fire, France, General Dynamics, Germany, Industry & Trends, Lockheed Martin, Mergers & Acquisitions, Raytheon, USA

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