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Lockheed Martin Releases Company Guidance Amidst COVID-19 Outbreak; Marillyn Hewson Quoted
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Lockheed Martin Releases Company Guidance Amidst COVID-19 Outbreak; Marillyn Hewson Quoted
Lockheed Martin Releases Company Guidance Amidst COVID-19 Outbreak; Marillyn Hewson Quoted

Lockheed Martin has released new company guidance regulations due to the rapid spread of COVID-19 and its major societal impacts, the company announced on Friday. 

“Lockheed Martin understands that the shared effort to combat COVID-19 and recover from its effects will be a long-term one. We will continue to engage national, state, and local leaders to undertake additional measures as needed,” said Marillyn Hewson, chairman, CEO and president of Lockheed Martin. 

In response to this crisis, Lockheed Martin released a new guidance plan with three clear priorities. First, The company will continue to protect the health and safety of its employees. Second, Lockheed Martin will perform and deliver national security, global communications, and infrastructure initiatives. The company will utilize its know-how, resources and leadership as a company to assist our communities and our country during this period of national crisis. 

Lockheed Martin will also advance more than $50 million to small- and medium-sized business partners in our supply chain to ensure they have the financial means to continue to operate, sustain jobs and support the economy. 

The company will donate $10 million to non-profit organizations involved in COVID-19 related relief and assistance, with emphasis on veterans and military families. Lockheed Martin have activated a $6.5 million employee disaster relief fund to assist Lockheed Martin employees and retirees impacted with COVID-19.

The initial financial steps will help during the time of national need. In addition, Lockheed Martin will offer engineering and technical capabilities to help solve the challenges faced by federal, state and local officials. 

Finally, during the economic uncertainty, Lockheed Martin will continue our planned recruiting and hiring. Given the requirement for social distancing, the company will deploy virtual technology and other techniques to sustain our hiring activity during this crisis period.

“Throughout this crisis, Lockheed Martin remains committed to continuing to deliver critical capabilities for our nation and our allies, supporting job creation and economic recovery, and helping those in need wherever we operate,” Hewson concluded

About Lockheed Martin 

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

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SAIC Announces Fourth Quarter Results; Nazzic Keene Quoted
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SAIC Announces Fourth Quarter Results; Nazzic Keene Quoted
SAIC Announces Fourth Quarter Results; Nazzic Keene Quoted

Science Applications International Corporation (SAIC) has announced results for the fourth quarter and full fiscal year ended January 31, 2020, the company announced on Friday. 

“The addition of Unisys Federal to our business portfolio accelerates our growth strategy, enhances our technical talent base, and solidifies SAIC as a market leader in providing IT modernization solutions,” said CEO of SAIC and Wash100 Award recipient, Nazzic Keene.

Revenues for the quarter increased $348 million compared to the prior-year quarter primarily due to the acquisition of Engility. Excluding acquired revenues, compared to the prior-year quarter, revenues decreased by 1.2 percent. 

Operating income as a percentage of revenues increased to 5.7 percent for the three months ended January 31, 2020 as compared to 0.6 percent in the comparable prior-year period primarily due to lower acquisition and integration costs, strong program execution and cost synergies, partially offset by increased intangible asset amortization.

Net income attributable to common stockholders for the quarter increased $68 million from the comparable prior year period primarily as the result of higher operating income, partially offset by higher interest expense.

Adjusted EBITDA as a percentage of revenues for the quarter was 8.7 percent, compared to 8.0 percent for the prior year quarter due to cost synergies and higher net profit write-ups.

Diluted earnings per share was $1.01 and adjusted diluted earnings per share was $1.58 for the quarter. The weighted-average diluted shares outstanding during the quarter was 58.5 million shares. 

The negative impact from acquisition and integration costs included within diluted earnings per share was $0.24 and $0.54 for the quarter and year, respectively. The weighted-average diluted shares outstanding during the year was 59.0 million shares.

“SAIC’s full fiscal year 2020 results reflect strong financial performance, operational execution, and the implementation of a strategy that positions the company for sustained, profitable growth and long-term value creation,” added Keene. 

About SAIC

SAIC is a premier technology integrator solving our nation’s most complex modernization and readiness challenges across the defense, space, federal civilian, and intelligence markets. Our robust portfolio of offerings includes high-end solutions in systems engineering and integration; enterprise IT, including cloud services; cyber; software; advanced analytics and simulation; and training. 

With an intimate understanding of our customers’ challenges and deep expertise in existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to rapidly deliver innovative, effective, and efficient solutions.

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Serent Capital Sells Pondera Solutions to Thomson Reuters; David Kennedy, Stewart Lynn Quoted
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Serent Capital Sells Pondera Solutions to Thomson Reuters; David Kennedy, Stewart Lynn Quoted

Serent Capital Sells Pondera Solutions to Thomson Reuters; David Kennedy, Stewart Lynn Quoted

Serent Capital has announced that its portfolio company, Pondera Solutions, a cloud-computing solution that combats fraud, waste, and abuse (FW&A) in government programs, has been acquired by Thomson Reuters, Serent announced on Friday.

“Pondera Solutions has built a unique platform and company over the last nine years – one that leverages innovative technologies to drive meaningful impact for its customers and their communities,” stated David Kennedy, Partner at Serent Capital. “It has been an honor to collaborate with Pondera as it has grown since partnering with Serent. Thomson Reuters is a great home for Pondera’s next chapter as a growth company.”

With the acquisition of Pondera Solutions, the company will enhance the offerings in the risk, fraud and compliance space. In addition, after the purchase closes, Thomson Reuters will expand its strategic approach to deliver insight through advanced analytics, artificial intelligence and human expertise.

Thomson Reuter will integrate Pondera’s solutions to help support business and contracted work. In Oct. 2019, Thomson Reuters secured a multiyear contract to give the Department of Justice (DoJ) personnel access to technology platforms designed for legal research and investigative purposes.

The company noted that it will also provide the CLEAR investigation tool to help DoJ components locate information on a subject and examine criminal events. More than 25 thousand users across the department will have access to the information service provider’s Westlaw Edge, Litigation Analytics, Drafting Assistant and Practical Law products.

Stewart Lynn, Partner at Serent Capital, added, “We continue to have a strong belief and focus in the government technology market, especially during these times when governments collaborate, communicate, and work to support our communities in a digital world.”

Thomson Reuter announced the acquisition of Pondera on March 19, 2020. Steve Rubley, two-time Wash100 Award Recipient and president of the Government business for Thomson Reuters  said,  “Pondera will be a key component to the suite of tools available to government customers that use technology, data and human analysis to support their mission and benefit their communities.”

About Serent Capital

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive.

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AT&T Responds to COVID-19 Pandemic, providing Relief Support for First Responders, Customers, Schools, Businesses
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AT&T Responds to COVID-19 Pandemic, providing Relief Support for First Responders, Customers, Schools, Businesses

AT&T Responds to COVID-19 Pandemic, providing Relief Support for First Responders, Customers, Schools, Businesses

AT&T has announced its response to coronavirus (COVID-19) as the country navigates the health crisis, the company reported on Friday. AT&T noted its new regulations to support employees, customers and first responders by providing several relief offerings.

The company will provide a 20 percent bonus about the regular hourly base rate to front-line employees in addition to paid leave. AT&T has offered excused time off up to a total of 160 hours for employees who have tested positive for COVID-19 and remain quarantined.

AT&T has also provided paid leave for employees who are at higher risk due to an underlying health condition, including parents or guardians of children whose schools or daycares have closed and another childcare option is not yet available.

To support the first responders, the company will supply FirstNet at no additional charge. Public safety agencies on FirstNet have access to a fleet of 76 deployable cell sites. AT&T has also provided waived fees through an agreement with the Navy Exchange Command that meets federal guidelines and ethics policies.

AT&T will additionally support its customers by providing unlimited home internet to all customers, as well as fixed wireless internet, can use unlimited internet data. The company will also waive late fees upon request for consumer and small business wireless, home phone and broadband customers experiencing hardships because of COVID-19 and overage fees for those customers who have shared data wireless plans.

To support education, AT&T will expand its distance learning fund, allocating an additional $10 million. Through May 23, AT&T is offering schools 60 days of unlimited wireless data and AccessMyLan services at no cost to qualified schools activating new eligible data-only lines for laptops, tablets and hotspots.

AT&T will support business customers currently on or who purchase an AT&T World Connect Advantage package receive 50 percent off the current rate. Businesses can also keep their teams connected through conference calls and video conferencing with Cisco Webex Meetings.

About AT&T Communications

We help family, friends and neighbors connect in meaningful ways every day. From the first phone call 140+ years ago to mobile video streaming, we innovate to improve lives. We have the nation’s fastest wireless network. And according to America’s biggest test, we have the nation’s best wireless network.

We’re building FirstNet just for first responders and creating next-generation mobile 5G. With a range of TV and video products, we deliver entertainment people love to talk about. Our smart, highly secure solutions serve nearly 3 million global businesses – nearly all of the Fortune 1000. And worldwide, our spirit of service drives employees to give back to their communities.

USS Ford Completes First At-Sea Vertical Replenishment With Sea Hawk Helicopters
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USS Ford Completes First At-Sea Vertical Replenishment With Sea Hawk Helicopters

USS Ford Completes First At-Sea Vertical Replenishment With Sea Hawk Helicopters

Sailors onboard the USS Gerald R. Ford wrapped up a vertical replenishment effort that involved Sikorsky-built helicopters and the USNS Joshua Humphreys tanker as part of the aircraft carrier’s post-delivery test and trials.

The U.S. Navy said Thursday MH-60S Sea Hawk units were attached to Helicopter Sea Combat Squadron 9’s “tridents” to deliver supplies to Ford in the Atlantic Ocean.

“Exercising and proving our ability to conduct simultaneous fueling and replenishment-at-sea increases the ship’s flexibility to respond to mission requirements as it minimizes our required time alongside a supply ship,” said  Cmdr. Carl Koch, supply officer for the CVN 78 vessel.

The PDT&T phase lasts for 18 months and seeks to operational readiness of a ship prior to mission deployment.

Commander Naval Air Forces Atlantic inspectors certified Ford’s flight deck and air traffic control station last week.

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Jacobs Announces Additional Liquidity Capacity to Strengthen Financial Flexibility; Kevin Berryman Quoted
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Jacobs Announces Additional Liquidity Capacity to Strengthen Financial Flexibility; Kevin Berryman Quoted

Jacobs Announces Additional Liquidity Capacity to Strengthen Financial Flexibility; Kevin Berryman Quoted

Jacobs has announced it entered into a new term loan facility, effective March 25, 2020 to strengthen financial flexibility, the company announced on Thursday.

President and CFO Kevin Berryman said, “Jacobs has made significant progress transforming to a business model aligned to longer-term margin enhancing growth opportunities in sectors such as national security, space exploration, environmental and water resiliency, transportation-related infrastructure and the convergence of information and operational technology.”

Under the terms of the facility, Jacobs borrowed $730 million and a U.K. subsidiary borrowed £250 million with a maturity in March 2025. The additional assets will be used for general corporate purposes, including the repayment of certain debt.

Borrowings under the term loan will bear interest at the prevailing LIBOR rate plus a margin of between 0.875 percent and 1.50 percent. The strategic actions will enable Jacobs’ to enhance the company’s financial flexibility through an additional $1 billion of liquidity capacity, which brings Jacobs total cash on hand and revolver capacity to more than $2 billion.

“Given the current market conditions, we are pleased that our banking partners recognized the financial strength associated with our transformed company and thank them for their continued partnership,” added Berryman. The company will provide further details in a Form 8-K to be filed with the Securities and Exchange Commission.

About Jacobs 

At Jacobs, we’re challenging today to reinvent tomorrow by solving the world’s most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $13 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector.

DISA Pauses File Synchronization, Backup Functions on Cloud-Based Storage
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DISA Pauses File Synchronization, Backup Functions on Cloud-Based Storage

DISA Pauses File Synchronization, Backup Functions on Cloud-Based Storage

A Defense Information Systems Agency office has temporarily halted two features of a cloud-based storage service that is designed for unclassified Defense Department information network users.

DISA said Thursday its cloud storage program management office paused the milDrive platform’s local workstation backup and personal storage table file synchronization functions as the PMO needs to shift resources to manage its new user onboarding process and operational data intake.

The agency noted the milDrive portal retains data previously backed up in the client system.

According to DISA, storage users will receive a red “X” notification in the Windows file explorer on the milDrive folder’s PST files and an unsyncable file warning in the dashboard’s sync status.

The service is designed to help DoDIN users access unclassified information from a computer or a mobile device.

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DoD Formalizes Nonprofit Board’s Authority to Certify Third-Party Cybersecurity Assessors
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DoD Formalizes Nonprofit Board’s Authority to Certify Third-Party Cybersecurity Assessors
DoD Formalizes Nonprofit Board's Authority to Certify Third-Party Cybersecurity Assessors

Ty Schieber, chairman of the Cybersecurity Maturity Model Certification accreditation board, said the Department of Defense has granted the nonprofit group formal authority to select third-party assessment organizations that will audit companies' CMMC compliance, FedScoop reported Thursday.

DoD formally authorized the accrediation body to vet and certify 3PAOs through a memorandum of understanding signed between the two parties.

The report said contractors must hire accredited assesors to evaluate and validate their cybersecurity posture  before they can pursue defense contracting opportunities.

Schieber noted during a virtual event Thursday that the accreditation process has not started yet and warned of companies that are claiming to be certified testers under the CMMC program.

Katie Arrington, chief information security officer in the office of defense undersecretary for acquisition and a 2020 Wash100 awardee, said she expects that all DoD contracts will incorporate cybersecurity requirements by 2025.

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Gen. David Berger Releases Marine Force Design 2030
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Gen. David Berger Releases Marine Force Design 2030
David Berger
David Berger

Gen. David Berger, commandant of the U.S. Marine Corps, outlined his plans for advancing the transformation of the service branch’s force structure by 2030, Seapower Magazine reported Thursday.

The Force Design 2030 report seeks to shift the Marine Corps’ focus from countering violent extremism in the Middle East to peer-level competition in the Indo-Pacific region in accordance with the National Defense Strategy.

“As a consequence, we must transform our traditional models for organizing, training, and equipping the force to meet new desired ends, and do so in full partnership with the Navy,” Berger wrote in the report.

He said the Marine Corps “must pursue transformational capabilities that will provide naval fleets and joint force commanders with a competitive advantage in the gray zone and during contingency.”

For its objective force, the service plans to increase the number of its rocket artillery batteries from seven to 21 and add three more light armored reconnaissance companies. The Marine Corps also intends to raise the number of its active component unmanned aerial vehicle squadrons to six and active component aerial refuel transport squadrons to four.

Berger also mentioned his plans to divest tanks, heavy helicopter squadrons, two light attack helicopter squadrons and three infantry battalions, among others.

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Suzette Kent: Agency CIOs, Industry ‘Acting With Urgency’ to Meet IT Demand
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Suzette Kent: Agency CIOs, Industry ‘Acting With Urgency’ to Meet IT Demand
Suzette Kent
Suzette Kent

Suzette Kent, federal chief information officer and a 2020 Wash100 award winner, said agency CIOs, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency and industry partners are ramping up efforts to meet the information technology demand among teleworkers and carry out missions amid the COVID-19 pandemic, Federal News Network reported Thursday.

“Everyone is acting with urgency not only inside the federal government, but also the vendors we are working with,” Kent said. “We have been inundated with offers from vendors. We are collecting all those offers and going through them in a way that’s efficient to decide what we can use.”

She said her office has discussed with telecommunications firms and internet service providers about ways to meet the increasing IT demand and ensure the security platforms are installed on networks.

Kent mentioned that agencies conducted individual evaluation of their capacity and launched measures a few weeks ago in preparation for the current situation.

“Right now over the last week and into this week, we see those investments in modernization, like moving to the cloud and the scaling that comes with it, prove the value and give us the results we wanted to see,” she said. “Agencies are able to go from volumes of a snow day in a region to much larger scale volumes across the country.  We’ve done virtual private network testing, and vendors have been very responsive to scale up licenses and with technical tweaks that agencies needed.”

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