Defense Business Briefing -- Aug. 7, 2018

Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

This week's top story

L3 restructures business segments

L3 Technologies is consolidating two business units to "maximize growth and improve its integration and collaboration."

News & notes

BWXT reports bolstered sales

BWX Technologies, which builds the nuclear reactors used on Navy aircraft carriers and submarines, said this week sales in its most recent quarter reached $439 million, up 7 percent from the same three-month period a year earlier.

Alion to acquire MacAulay-Brown

Alion Science and Technology has agreed to buy MacAulay-Brown, which specializes in engineering and cybersecurity work for national security agencies.

Kratos reports sales boost

Kratos Defense & Security Solutions said sales in its most recent quarter hit $151 million, up 2 percent from the same three-month period a year earlier.

Huntington Ingalls reports sales boost

Huntington Ingalls said sales in its most recent quarter hit $2 billion, up almost 9 percent from the same three-month period a year earlier.

ManTech reports sales, profit boosts

ManTech International said sales in its most recent quarter reached $491 million, up 19 percent from the same three-month period a year earlier.

Contracting CEOs report government is seeking to more quickly spend increased funding

Lynn Dugle, Engility's chief executive, said during a call with analysts the contractor is seeing a much higher percentage of its existing programs being extended -- and often expanded -- rather than being recompeted.

Aerojet Rocketdyne reports sales, profit boosts

Aerojet Rocketdyne said sales in its most recent quarter reached $467 million, up almost 2 percent from the same three-month period a year earlier.

Appointments & promotions

Leidos executive to depart

Leidos said Timothy Reardon, the head of the company's defense and intelligence group, would leave the company.

Leidos hires Phillips

Leidos said it has named Randy Phillips senior vice president for corporate development, tasked with leading "the strategic development and execution of Leidos' growth strategy through mergers, acquisitions, and related activities."

Cubic hires Powell

Cubic said it has named Bradford Powell vice president and general manager of the command and control, intelligence, surveillance and reconnaissance -- or C2ISR -- solutions business within Cubic Mission Solutions.

Raytheon hires Sullivan and Fortunato

Raytheon said it has named Sally Sullivan vice president of U.S. business development and Ed Fortunato vice president of government relations.

Aerojet Rocketdyne hires Maser

Aerojet Rocketdyne said it has named Jim Maser senior vice president of its space business unit.

What's happening

The week ahead

The Space and Missile Defense Symposium and several defense industry events are on the docket for this week.

For Inside Defense subscribers

Pentagon preparing memorandum of agreement to bolster commercial item efforts

The Pentagon's defense pricing office and the Defense Contract Management Agency are set to soon enter into a memorandum of agreement to clarify their roles on commercial item policies and determinations and document a funding plan for the commercial item database, according to a new letter from a top DOD official.

Pentagon delayed in turning defense legislation into acquisition regulations

Facing a new regulations regime under the Trump administration, the Pentagon has been delayed in turning the provisions in recent defense authorization legislation, among other required changes, into rules for the defense acquisition system.

Lord: Industrial base report addresses supply chain 'fragility,' looks at dependence on single sources

The defense industrial base report, which is at the White House, focuses on the defense supply chain down to "the granular level," according to the Pentagon acquisition chief.

Defense bill includes rejection of low-cost considerations praised as win by cybersecurity industry

Buried in the fiscal year 2019 defense authorization bill awaiting President Trump's signature is a provision that discourages the use of cost as the primary concern when procuring certain services across all federal agencies, which industry groups are celebrating as big win for cybersecurity.