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General Dynamics Partners with Bath Iron Works to Support U.S. Navy Development; Phebe Novakovic Quoted
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General Dynamics Partners with Bath Iron Works to Support U.S. Navy Development; Phebe Novakovic Quoted

General Dynamics has partnered with Bath Iron Works and the International Association of Machinists and Aerospace Workers (IAM) Local S6 under an agreement to end the ongoing strike by shipyard workers in Bath, Maine, the company reported on Monday.

“We are pleased to have reached agreement with our union partners and look forward to getting back to the job of building ships for the U.S. Navy,” said Phebe Novakovic, chairman and chief executive officer of General Dynamics and six-time Wash100 Award recipient.

Federal Mediation and Conciliation Service deputy director Rich Giacolone and IAM International president Robert Martinez assisted to facilitate the tentative agreement. Approximately four-thousand members of the Local S6 have been on strike since June 22. The agreement is subject to ratification vote by the union’s members.

“We greatly appreciate the assistance of Director of Trade and Manufacturing Policy Peter Navarro and AFL-CIO Metal Trades Department President Jimmy Hart for their help in bringing the parties together.”

General has a long history of supporting the U.S. Navy. In Dec. 2019, the company received a $22.2 billion contract from the U.S. Navy to build nine more nuclear-powered Virginia-class submarines. The contract includes an option for a 10th vessel over five years

The company’s submarines are designed to attack both land and sea targets with Tomahawk cruise missiles and other weapons. 18 of the attack submarines were delivered in 2019, including $17 billion for the prior installment that had been the Navy’s largest contract.

If exercised, the option for a 10th sub would bring the value of the new contract to $24 billion,

About General Dynamics

General Dynamics, headquartered in Reston, Virginia, is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019.

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Perspecta Announces Q1 FY 21 Financial Results; Mac Curtis Quoted
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Perspecta Announces Q1 FY 21 Financial Results; Mac Curtis Quoted

Perspecta has announced financial results for the first quarter of fiscal year 2021, which ended July 3, 2020, the company reported on Monday. 

"We are off to a solid start this fiscal year and our first quarter results continue to demonstrate solid execution across the enterprise, delivering on our revenue, adjusted diluted earnings per share and free cash flow conversion expectations," said Mac Curtis, chairman and chief executive officer of Perspecta and six-time Wash100 Award recipient.

Perspecta’s revenue for the quarter was $1.11 billion, up 1 percent compared to the fourth quarter of fiscal year 2020. Income before taxes for the first quarter of fiscal year 2021 was $3 million and Perspecta’s operating margin decreased from 3.8 percent to 0.3 percent year-over-year. 

The company’s net loss was $3 million, or a loss of $0.02 per diluted share and adjusted net income was $76 million for the first quarter of fiscal year 2021, down 11 percent year-over-year. Adjusted EBITDA was $167 million for the first quarter of fiscal year 2021, down 18 percent compared to adjusted EBITDA for the first quarter of fiscal year 2020. 

Adjusted EBITDA margin decreased from 18.4 percent to 15.1 percent. Perspecta’s adjusted diluted EPS for the first quarter of fiscal year 2021 was $0.47, down 10 percent compared to adjusted diluted EPS for the first quarter of fiscal year 2020.

Perspecta reported that the Defense and Intelligence segment revenue of $776 million increased by 3% compared to the first quarter of fiscal year 2020, primarily due to new business wins and growth on existing programs. 

The Civilian and Health Care segment revenue of $332 million decreased by 6 percent compared to the segment's revenue from the comparable period of the prior year due to NASA Agency Consolidated End-User Services and other program wind downs.

Defense and Intelligence adjusted segment profit margin for the first quarter of fiscal year 2021 decreased to 12.6 percent from 15.7 percent in the first quarter of fiscal year 2020. Civilian and Health Care adjusted segment profit margin for the first quarter of fiscal year 2021 improved to 10.2 percent from 9.3 percent in the first quarter of fiscal year 2020. 

Total adjusted segment profit for the first quarter of fiscal year 2021 decreased to $132 million from $151 million in the first quarter of fiscal year 2020.

Perspecta generated $132 million of net cash provided by operating activities in the first quarter of fiscal year 2021. Quarterly adjusted free cash flow was $102 million. At quarter end, Perspecta had $122 million in cash and cash equivalents, $750 million of undrawn capacity in its revolving credit facility, and $2.5 billion in total debt, including $229 million in finance lease obligations. 

The company’s contract awards totaled $1.2 billion in the first quarter of fiscal year 2021. Notably, the company received the U.S. Army Training and Doctrine Command Army Training Information System (ATIS) contract. 

Perspecta was awarded an Other Transaction Agreement from the U.S. Army Training and Doctrine Command to deliver Phase II of the ATIS program including the development, integration, delivery, operation and maintenance of an enterprise capability for Army training and education information. 

"I am pleased with both our operational performance and business development efforts during these challenging market conditions. Additionally, our new business wins build on the positive momentum in both of our segments and we remain dedicated to meeting our customers' needs and generating value for all our stakeholders,” Curtis added. 

About Perspecta Inc.

At Perspecta, we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 280+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. 

With offerings in mission services, digital transformation and enterprise operations, our team of nearly 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation. 

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Report Calls for Significant Increase in Federal AI Research Spending to $25B; Rep. Will Hurd Quoted
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Report Calls for Significant Increase in Federal AI Research Spending to $25B; Rep. Will Hurd Quoted

A new report from the Bipartisan Policy Center and the Center for New American Security recommends that the federal government immediately double research-and-development spending on artificial intelligence and increase R&D funding for AI efforts to $25 billion by fiscal year 2025.

The report published Thursday offers 14 recommendations to maintain U.S. leadership in AI. BPC and CNAS developed the report in consultation with Reps. Will Hurd (R-Texas) and Robin Kelly (D-Ill.).

“We are calling for a dramatic investment in R&D spending from the federal government,” Hurd, a two-time Wash100 Award winner, told Netgov in an email. “Investing in R&D could mean waiting years before you can see tangible results, which can be difficult in an environment with so many funding priorities. But AI will be a critical enabling technology of the future.”

The report also calls for the U.S. to diversify and expand its computing capacity by convening a task force to form a national compute and data resource; addressing the need to broaden broadband into rural areas; and establishing a competitive grant program for universities to come up with affordable high-performance computers and graphics processing units that are accessible to underserved and rural areas.

The document classified the remaining recommendations into four other principles, including the federal government’s role in incentivizing R&D in the private sector and the need for international cooperation to advance AI R&D efforts.

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William Evanina Offers Update on Foreign Actors’ Activities Ahead of 2020 Elections
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William Evanina Offers Update on Foreign Actors’ Activities Ahead of 2020 Elections

William Evanina, director of the National Counterintelligence and Security Center, has issued a statement providing updates on attempts by foreign threat actors to influence preferences of voters, undermine the citizens’ confidence in the democratic process and shift U.S. policies ahead of the 2020 U.S. presidential elections.

“Many foreign actors have a preference for who wins the election, which they express through a range of overt and private statements; covert influence efforts are rarer. We are primarily concerned about the ongoing and potential activity by China, Russia, and Iran,” Evanina said in a statement published Friday.

He said Russia is using several measures to disparage former Vice President Joe Biden, while China opposes the idea of President Donald Trump winning the election. Iran is seeking to undermine Trump and the country’s democratic institutions by promoting disinformation on social media.

Evanina noted that the Intelligence Community has and will continue to deliver classified briefings on election threats to the presidential campaigns, political committees and all congressional members.

“We have provided nearly 20 classified election threat briefings to these stakeholders since mid-May 2020,” he said. “We will also keep providing updates to the American public, consistent with our national security obligations.”

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Lt. Gen. David Thompson Nominated as Vice Chief of Space Operations
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Lt. Gen. David Thompson Nominated as Vice Chief of Space Operations

Lt. Gen. David Thompson, vice commander of the U.S. Space Force, has been nominated by President Trump to serve as the service’s vice chief of space operations.

Defense Secretary and 2020 Wash100 Award winner Mark Esper also announced Thompson’s nomination for promotion to the rank of general in a news release published Friday. Thompson previously served as vice commander of Air Force Space Command, which became the Space Force in December 2019.

He joined the Air Force in 1985 and has held leadership roles, including director of plans and policy and deputy director of global operations at Strategic Command and commander of the aerospace data facility at Buckley Air Force Base in Colorado.

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Army Begins Dev’t of Mobile App for Squad Leaders
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Army Begins Dev’t of Mobile App for Squad Leaders

The U.S. Army has started the development of a mobile application that aims to help leaders manage daily tasks and connect with squad members. The team will collaborate with the Army Futures Command to study various approaches for counseling, sponsorship and training management, the service branch said Wednesday.

Sgt. Maj. Michael Grinston formed a team of 15 non-commissioned officers to help develop the app and provide inputs.

“We’re really looking at how do we give a squad leader an app — like a leader’s book — right there in the palm of their hands,” said Grinston.

The Army plans to unveil the app during the Association of the U.S. Army's yearly meeting in October. The app's development is a part of the This is My Squad effort, a program that seeks to assist squad leaders in fostering trust with their members.

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Air Force’s Rob Beutel on Pandemic-Driven Changes in Stakeholder Dialogue
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Air Force’s Rob Beutel on Pandemic-Driven Changes in Stakeholder Dialogue

Rob Beutel, deputy chief information technology officer of the U.S. Air Force, has said that telework operations did not prevent his team from evaluating new technologies through online demonstrations, FedScoop reported Thursday.

Beutel told attendees at a GovLoop webinar that his office increased virtual interactions with research institutions and academic entities with the prevalence of livestreaming events and conferences amid the ongoing pandemic. “Now, on a daily basis we can meet with [any] company,” he noted.

Beutel and his team were previously required to set up meetings with key stakeholders in Washington, D.C., and the Silicon Valley area for technology demos with Department of Defense (DoD) networks.

His office also worked to ensure the sufficiency of laptops for airmen and civilians deployed around the world, according to the report.

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FAA Unveils Funding Opportunity to Explore Safe Integration of Drones; Elaine Chao Quoted
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FAA Unveils Funding Opportunity to Explore Safe Integration of Drones; Elaine Chao Quoted

The Federal Aviation Administration (FAA) has awarded $3.3 million in education and training grants to seven universities under the agency's Alliance for System Safety of UAS through Research Excellence.

Elaine Chao, secretary at the Department of Transportation (DoT), said in a statement published Thursday that DOT aims to build approaches that could field drones in emergency scenarios through the funding effort.

Mississippi State University received $1.3 million in funds to conduct program management activities, while Oregon State University, North Carolina State University, Mississippi State University, New Mexico State University, the University of Alaska, Fairbanks and University of Alabama–Huntsville secured the remaining grants to study the safe implementation of drones into disaster response and preparedness.

FAA has recorded 1.65 million active recreational and commercial unmanned aerial systems in the U.S. The agency expects the number of active drones to increase by 2.31 million in 2024.

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NNSA Intends to Assess Lawrence Livermore National Laboratory for Continued Operations
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NNSA Intends to Assess Lawrence Livermore National Laboratory for Continued Operations

The National Nuclear Security Administration (NNSA) within the Department of Energy (DoE) has given its approval of an effort to evaluate Lawrence Livermore National Laboratory's potential for continued operations.

The LLNL Site-wide Environmental Impact Statement for Continued Operation will assess the environmental impacts of options on whether to maintain the laboratory's operations without significant changes, DOE said Wednesday.

The first option is to maintain existing activities with no operational expansions for the next 15 years, and the alternative would be to update old infrastructure. The alternative option may involve facility alterations, new construction, excess facility decommissioning and operational changes. A notice of intent for the effort was published Wednesday on the Federal Register.

“The continued operation of Lawrence Livermore National Laboratory is critical for NNSA’s Stockpile Stewardship Program and reducing global nuclear threats," said Lisa Gordon-Hagerty, NNSA Administrator and DOE's undersecretary for nuclear security.

Amentum, Bechtel National, BWX Technologies and Battelle are part of LLNL's management team.

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AFRL, Other Military Offices Take Presence at U.K.-Based Science Campus
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AFRL, Other Military Offices Take Presence at U.K.-Based Science Campus

International research offices of the U.S. Air Force, the U.S. Navy and the U.S. Army have established presence at White City Campus, a science hub managed by Imperial College London.

The tri-service research offices have occupied space at the campus to strengthen collaboration with the U.K. defense ministry, Wright-Patterson AF Base said Thursday. The move is also intended to boost the offices’ engagement with the U.K.’s industry, academia and community of non-traditional innovators.

“Co-locating with Imperial College London is a wonderful opportunity to strengthen the relationships formed through our existing grants and is a direct realization of the 2030 strategy call to build bridges and foster innovation on critical research topics,” said Col. D. Brent Morris, international science division director of the Air Force Office of Scientific Research within AF Research Laboratory.

A ribbon-cutting ceremony for the occupied space will take place when the area sufficiently reduces COVID-19 restrictions.

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