Tactical Communications received several key awards that support U.S. DoD modernization, strengthening its position in airborne and solidifying its international presence:
- $383 million sole-source IDIQ from the U.S. Marine Corps for next-generation HF radio systems, with an initial task order of $89 million
- $42 million from the U.S. Army for next-generation HF radio systems as part of a multi-year modernization effort
- $28 million from the U.S. Army to provide Single-Channel Ground and Airborne Radio Systems (SINCGARS)
- $86 million for Falcon III® products from countries in Eastern Europe and the Middle East, supporting the company's installed base and furthering its international leadership
Key awards in Broadband Communications include a $500 million IDIQ, with an initial order of $31 million, to provide tactical waveform modems for resilient and secure communications in support of the U.S. Air Force and Army.
Segment funded book-to-bill was 0.80 for the quarter and 1.03 since the merger.
Aviation Systems
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($ millions) |
First Quarter |
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1Q20 |
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1Q19 |
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Change |
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(GAAP to GAAP comparison) |
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Revenue |
$ |
1,011 |
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$ |
144 |
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n/m |
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Operating income |
$ |
(177 |
) |
|
$ |
17 |
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n/m |
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Operating margin |
(17.5 |
)% |
|
11.8 |
% |
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(GAAP to pro forma comparison) |
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Revenue |
$ |
1,011 |
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|
$ |
914 |
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11% |
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Operating income |
$ |
(177 |
) |
|
$ |
105 |
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n/m |
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Operating margin |
(17.5 |
)% |
|
11.5 |
% |
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n/m |
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(Non-GAAP to pro forma comparison) 5 |
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Revenue |
$ |
1,011 |
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|
$ |
914 |
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11% |
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Operating income |
$ |
147 |
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$ |
105 |
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|
40% |
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Operating margin |
14.5 |
% |
|
11.5 |
% |
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300bps |
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__________________ n/m: Not meaningful |