US defence companies report declining sales
US prime defence contractors have reported declining sales for the third quarter of 2013 as some of their businesses are affected by the current budget situation.
It has mainly been short-cycle businesses that have been impacted with the larger backlogs of longer-cycle businesses securing steady revenue.
Marilyn Hewson, CEO and president of Lockheed Martin, told reporters in a conference call: ‘With the closure of government’s FY2013 we can now determine that budget reduction actions implemented under sequestration will result in limited impact to our portfolio programmes in 2013, with impacts seen primarily on our short-cycle business.’
Further, Northrop Grumman
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 2 free stories per week
- Daily news round-up email service
- Access to all Decisive Edge email newsletters
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
More from Defence Notes
-
![UK defence funding rocked by budget restrictions]()
UK defence funding rocked by budget restrictions
Defence spending cuts are implied by UK ministers’ commitments to help plug a public finance “black hole”.
-
![RTX’s unauthorised exports result in $200 million fine]()
RTX’s unauthorised exports result in $200 million fine
According to the US Department of State, 750 company violations were recorded from 2017 to 2023.
-
![UK Strategic Defence Review asks public for views on future defence directions]()
UK Strategic Defence Review asks public for views on future defence directions
Currently serving military personnel, veterans, industry and academia have been invited to submit evidence to shape the UK’s future defence postures and spending.
