Leonardo DRS develops and manufactures advanced defense technologies for U.S. national security customers and allied forces across land, air, sea, space and cyber domains. News from DRS commonly covers quarterly results, funded bookings, backlog, program execution and demand across tactical radars, infrared and RF sensing, network computing, force protection, and electric power and propulsion.
Company updates also include product and capability launches such as rugged shipboard power systems, maritime counter-UAS packages, and open-architecture embedded computing for tactical platforms, along with defense contract vehicles, research-and-development activity, board changes and other governance developments.
Leonardo DRS (NASDAQ: DRS) has secured another full-rate production contract with Northrop Grumman to supply Quantum Cascade Laser (QCL) technology for Common Infrared Countermeasure (CIRCM) systems. These systems are designed to protect U.S. military aircraft from missile threats. The CIRCM, a fifth-generation laser-based infrared countermeasure, has achieved Initial Operational Capability with the U.S. Army and is set for accelerated deployment on over 1,500 helicopters. The DRS QCLs are lightweight, multi-color laser systems that offer best-in-class performance in missile threat defense. This collaboration underscores DRS's strategic focus on advancing laser technology and enhancing aircraft survivability.
Leonardo DRS (NASDAQ: DRS) has secured a contract from NAVSEA for over $26 million, providing AN/SPQ-9B radar design and engineering services. The contract encompasses system engineering, software development, hardware design, and more.
The AN/SPQ-9B radar is designed for littoral environments, offering high clutter improvement and low false track rates. It supports detection and tracking of various threats including anti-ship cruise missiles, UAVs, and helicopters.
Leonardo DRS's expertise in complex design and manufacturing underpins support across naval, ground, air, space, and cyber missions.
Leonardo DRS, Inc. (NASDAQ: DRS) has been awarded a contract to supply the upgraded Aerial Refueling Operator Station (AROS 2.0) for the U.S. Air Force's KC-46 Pegasus refueling tanker fleet by Boeing Defense. The company will manufacture and deliver the AROS 2.0 units to Boeing for installation. DRS's expertise in complex manufacturing and technical design positions it as a leader in providing critical systems for air and space missions.
Leonardo DRS, Inc. (Nasdaq: DRS) announced its first-quarter 2024 financial results, showing significant growth across various financial metrics. Revenue reached $688 million, up 21% year-over-year, with net earnings up 142% to $29 million. Adjusted EBITDA increased by 43% to $70 million, and diluted EPS rose by 120% to $0.11. The company reported a book-to-bill ratio of 1.2x, bookings worth $815 million, and a backlog of $7.8 billion, up 84% year-over-year. Leonardo DRS expressed confidence in its 2024 guidance, anticipating solid performance throughout the year.
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