Rapid Fire March 22, 2012: Satellite Acquisition Challenges Known

• The GAO published its latest report on the Pentagon’s space acquisitions.They recognize some areas of progress but they also think there is still “an array of challenges” to confront.

• The Pentagon is still working on spelling out its cyber doctrine.

• SAIC announced results for its fiscal year 2012 which ended on Jan 31, 2012. Total revenue decreased by 3% to $10.6B, dragged by a 10% drop in defense solutions to $4.2B (39.6% of total revenue). Behind these results is the $500M settlement with the City of New York over the CityTime contract; otherwise revenue on the defense side would have lost a single percentage point from the previous fiscal year. The total defense backlog stood at $7.1B at the end of January, 30% of which is funded.