Defense Business Briefing -- Aug. 6, 2019

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

This week's top story

GAO denies DynCorp's LOGCAP V protest

The Government Accountability Office late last month rejected DynCorp International's protest of the Army's Logistics Civil Augmentation Program, better known as LOGCAP V.

News & notes

BWXT nuclear operations profit benefits from 'absence of missile tube charges'

BWX Technologies said sales in its nuclear operations group during the most recent quarter hit a record-high $358 million, up nearly 8% from the same three-month period a year earlier.

Communications & Power Industries to buy General Dynamics unit

Communications & Power Industries said it has agreed to buy the antenna systems business of General Dynamics Mission Systems.

Aerojet Rocketdyne reports sales increase

Aerojet Rocketdyne said sales in its most recent quarter totaled $485 million, up about 4% from the same three-month period a year earlier.

Perspecta acquires Knight Point Systems

Perspecta said it has acquired Knight Point Systems, which specializes in modernizing IT and protecting networks, for $250 million.

Huntington Ingalls says it is restructuring maintenance program at San Diego shipyard

Huntington Ingalls Industries said it is restructuring and adding capabilities to its San Diego shipyard, following a $12 million forward loss related to a maintenance availability for the Chosin (CG-65) Aegis missile cruiser.

L3Harris CEO: Reviewing potential divestitures 'is really top of mind to us'

The newly combined L3Harris Technologies is evaluating which of its businesses might not fit following the completion of its merger, according to the company's chief executive.

Kratos reports increased sales, profit

Kratos Defense & Security Solutions said sales in its most recent quarter reached $188 million, up 24% from the same three-month period a year earlier.

ManTech reports improved sales, profit

ManTech International said sales in its most recent quarter reached $537 million, up 9% from the same three-month period a year earlier.

Oshkosh reports higher defense sales

Oshkosh said sales in its defense segment during the most recent quarter hit $511 million, up almost 16% from the same three-month period a year earlier.

KBR reports higher sales in government solutions unit

KBR said sales in its government solutions unit in the most recent quarter reached $1 billion, up 19% from the same three-month period a year earlier.

New SAIC CEO says integration of Engility, talent will be key priorities

Nazzic Keene, who formally took over the reins of Science Applications International Corp. last week, told Inside Defense she is focused on continuing to integrate Engility, achieving growth and bolstering the company's position in hiring.

Mercury Systems to acquire American Panel

Mercury Systems said it has agreed to acquire American Panel, an Alpharetta, GA-based company that specializes in large area display technology, for $100 million.

Appointments & promotions

Vectrus names Lynch CFO

Vectrus said it has named Susan Lynch chief financial officer, effective Aug. 7.

Leidos names Carlini chief technology officer

Leidos said it has named Jim Carlini chief technology officer, taking over from Jim Cantor, who has been promoted.

Crowell & Moring hires Ransom

Crowell & Moring said it has named Eric Ransom, a former lawyer in the Government Accountability Office's procurement law division, senior counsel in its government contracts group.

What's happening

The week ahead

The House and Senate are on their summer recess, while senior military officials speak at the annual Space and Missile Defense Symposium in Alabama as well as several Air Force Association Mitchell Institute events. Additionally, military contractors hold a series of earnings calls and presentations to Wall Street defense industry analysts.

For Inside Defense subscribers

Norquist: New review of all defense functions will 'begin immediately and move forward aggressively'

Defense Secretary Mark Esper has directed a "comprehensive zero-based review" of all defense functions and activities, beginning with a kickoff meeting on Saturday, according to a new memo.

Pair of DOD assessments to produce hypersonic industrial base strategy this fall

WEST LAFAYETTE, IN -- The Defense Department is conducting a pair of assessments of the U.S. industrial base to identify potential weak links in its ability to ramp up hypersonic weapons production -- findings expected to help guide targeted government investment in manufacturing tools and space to ensure timely delivery of these new ultra-fast missiles.