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

Lockheed seeks to use tax reform benefits on pension, training, R&D

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 reports increased sales, lower profit

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 looks to new Oklahoma City facilities

Kratos Defense & Security Solutions said its unmanned systems division is opening new offices and production facilities in Oklahoma City "to accommodate expected increased demand."

Following Orbital ATK acquisition, Northrop to name new unit innovation systems

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 reports increased sales, profit in government systems group

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.

Defense contractors report sales boosts

Some of the largest defense contractors said they saw sales increases in 2017.

General Dynamics reports increased sales, profit for year

General Dynamics said sales and profit rose last year, buoyed by the company's aerospace and combat systems businesses.

Vectrus acquires SENTEL

Vectrus has acquired SENTEL, which specializes in logistics and supply chain management, engineering and advanced technology and intelligence mission support.

Aerojet Rocketdyne adds Jones

Aerojet Rocketdyne has named Greg Jones senior vice president for strategy and business development, starting next week.

Baird hires Stack, Song and Sevilla

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 hires Cavedo

Plasan North America has named retired Army Col. John Cavedo vice president of business development and program management.

The week ahead

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.

Experts say NDAA provision on lobbying could catch some in industry by surprise

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.

DOD supports increased scrutiny of foreign investments that could threaten defense industrial base

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.

GAO adds security clearance process to 'high-risk list'

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.