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Tag Archives: defense contractor

Shares of defense companies fall on spending cuts

Defense contractors Lockheed Martin and Northrup Grumman reported surprisingly strong third-quarter earnings Wednesday. But executives at those companies used the same discouraging word to describe what the future will look like: Flat. The companies warned that government spending cuts in ...

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Northrop Grumman to cut 200, mostly in Baltimore

Defense contractor Northrop Grumman says it plans to lay off about 200 employees, mostly in the Baltimore region. Company spokesman Jack Martin Jr. said Friday that most layoffs will be at four Baltimore-area locations: the Electronic Systems division’s Linthicum headquarters ...

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Lockheed challenges use of ‘Skunkworks’ name by gun maker (access required)

Defense contractor Lockheed Martin Corp. smelled something rotten when a Montana gun maker filed an application to trademark its name, Underground Skunkworks. One of Bethesda-based Lockheed’s most storied divisions is its Advanced Development Programs, more popularly known by its trademarked ...

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SEC charges defense contractor, 3 ex-directors with accounting fraud

WASHINGTON — Federal regulators have charged a U.S. defense contractor and three of its former board members with accounting fraud, saying the company overstated earnings to investors. The Securities and Exchange Commission says DHB Industries Inc. settled the civil charges ...

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Lockheed to lay off 60, stop manufacturing at Middle River

Defense contractor Lockheed Martin Corp. said Thursday it will end manufacturing operations at its Middle River site by the end of next year, laying off 60. The company said the site, which specializes in producing a missile launch system used ...

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