Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
With the enactment of tax reform legislation, Lockheed Martin is weighing several ways to spend the anticipated benefits, according to the company's chief executive.
Harris said sales in its most recent quarter hit $1.5 billion, up 6 percent from the same three-month period a year earlier.
Kratos Defense & Security Solutions said its unmanned systems division is opening new offices and production facilities in Oklahoma City "to accommodate expected increased demand."
Northrop Grumman said it will create a new sector known as Northrop Grumman Innovation Systems once it closes the acquisition of Orbital ATK.
Rockwell Collins said sales in its government systems group during the most recent quarter reached $573 million, up 21 percent from the same three-month period a year earlier.
Some of the largest defense contractors said they saw sales increases in 2017.
General Dynamics said sales and profit rose last year, buoyed by the company's aerospace and combat systems businesses.
Vectrus has acquired SENTEL, which specializes in logistics and supply chain management, engineering and advanced technology and intelligence mission support.
Aerojet Rocketdyne has named Greg Jones senior vice president for strategy and business development, starting next week.
Financial services firm Baird has hired Jean Stack, John Song and Alex Sevilla to the company's global investment banking team, where they will lead the firm's government services investment banking coverage.
Plasan North America has named retired Army Col. John Cavedo vice president of business development and program management.
The week will be dominated by President Trump's State of the Union address today. Meanwhile, Congress has scheduled committee hearings on defense issues and several contractors will hold quarterly earnings calls.
Government contracting attorneys and advocates say a provision in the Fiscal Year 2018 National Defense Authorization Act on lobbying by former government officials is more restrictive than previous regulations and might surprise defense contractors.
The Defense Department supports a proposed law that would expand the scope of the Committee on Foreign Investment in the United States to allow for more detailed government reviews of business transactions, especially those involving China and emerging technologies, that could put the defense industrial base at risk.
The Government Accountability Office has added the personnel security clearance process to its "high-risk list," aiming to draw increased lawmaker scrutiny to the background investigations backlog as the Defense Department prepares to take over investigations for its own personnel.