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L3Harris Technologies reports news on its defense technology portfolio serving space, air, land, sea and cyber missions for national security customers. Updates commonly cover orders, backlog, revenue trends and segment activity across communications, mission systems, propulsion, missiles, sensors, avionics and space systems.
Company announcements also include dividend actions, production-capacity investments, solid rocket motor expansion, space-mission contributions and partnerships involving satellite systems and Earth-observation data infrastructure. Capital-structure news has included financing and registration activity related to the Missile Solutions business, including operations associated with legacy Aerojet Rocketdyne.
The Board of Directors of L3Harris Technologies (NYSE: LHX) has approved a quarterly cash dividend increase from $1.12 to $1.14, which will take effect with the first quarter dividend on March 24, 2023, payable to shareholders of record as of March 10, 2023. This marks the 22nd consecutive annual increase, raising the annual dividend from $4.48 to $4.56.
L3Harris Technologies (NYSE: LHX) will present at the Barclays Industrial Select Conference on February 23, 2023, at 8:00 a.m. EST. CEO Chris Kubasik and CFO Michelle Turner will lead the presentation, which will be streamed live on the L3Harris website. A recording of the presentation will be available after the event. L3Harris is a key player in the global aerospace and defense industry, delivering technology solutions across various domains with a dedicated workforce of 46,000 employees.
L3Harris Technologies (NYSE: LHX) has expanded its pilot training agreement with All Nippon Airways (ANA) to include training for ANA pilots. This agreement is set to begin in March 2023, allowing ANA to standardize pilot training across its group airlines and meet future pilot demand. The initial cohort of pilots will undergo a 60-week training program in England before returning to Japan for certification. This expansion builds on a long-standing relationship between L3Harris and ANA's subsidiary, Peach Aviation, showcasing ANA's confidence in L3Harris' training capabilities.
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L3Harris Technologies (NYSE: LHX) announced the successful completion of a critical design review (CDR) for its Viper Shield electronic warfare system, enhancing the capabilities of the F-16 Block 70/72 aircraft. This system provides a virtual electronic shield, improving defense through advanced jamming technology. The milestone was achieved with the participation of Lockheed Martin and the U.S. Air Force. Notably, L3Harris has developed the Viper Shield without relying on U.S. government funding, utilizing internal research and international collaborations instead. The system is set to undergo further integration testing in the second quarter of 2023.
L3Harris Technologies (NYSE: LHX) has announced its fourth quarter fiscal year 2022 results via an investor letter available on its website. A conference call led by Chair & CEO Chris Kubasik and CFO Michelle Turner is scheduled for January 27, 2023, at 8:30 a.m. EST, which will include a Q&A session. Participants can join the call by phone or listen to a webcast on L3Harris.com. A recorded version will also be accessible on the same site by 12 p.m. EST on the same day. L3Harris continues to provide end-to-end technology solutions across aerospace and defense domains, emphasizing its role in meeting mission-critical needs.
L3Harris Technologies (NYSE:LHX) has secured a $40 million contract from the Department of Defense to deliver 14 VAMPIRE™ systems to enhance Ukrainian defense against aerial threats. The agreement includes the delivery of four systems by mid-2023 and ten by year-end. L3Harris is committed to expedited production through investments in procurement and testing to support Ukraine's defense efforts.
L3Harris Technologies (NYSE: LHX) will announce its fourth quarter financial results for FY 2022 on January 26, 2023, at approximately 4:30 p.m. EST. The financial results will be detailed in an investor letter available on L3Harris.com. A conference call with company leadership is scheduled for January 27, 2023, at 8:30 a.m. EST, providing a platform for questions and answers.
Viasat has successfully completed the sale of its Link 16 Tactical Data Links business to L3Harris Technologies for approximately $1.96 billion in cash. The expected net proceeds for Viasat are around $1.8 billion after taxes and fees. This divestiture aligns with Viasat's strategy to focus on global satellite services and supports the reduction of net debt and interest expenses, progressing towards positive free cash flow. The Link 16 TDL business generated about $400 million in revenue and $125 million in Adjusted EBITDA for the year ending June 30, 2022.
L3Harris Technologies (NYSE: LHX) has completed the acquisition of Viasat Inc.'s (NASDAQ: VSAT) Tactical Data Links product line, known as Link 16, for $1.96 billion. This acquisition is expected to enhance L3Harris's capabilities in resilient communication and networking, broadening their user base across multiple domains. The deal, originally announced in October 2022, received all necessary regulatory approvals by December 2022.