Last week, the Association for Unmanned Vehicle Systems International (“AUVSI”) held its Unmanned Systems North America conference. The cadre of key players and industry authorities included acting FAA Administrator, Michael Huerta, whose remarks gave support to a potential boon for drone makers. As technology becomes more advanced and demand increases from police agencies and others for using drones in the commercial world, the FAA has moved to ease restrictions.
Nonetheless, there are still major safety and privacy concerns surrounding drone use. In spite of these challenges, Huerta said that the FAA was prepared to meet a congressional mandate to integrate the airspace with robotic aircraft by September of 2015, “There’s a lot of work that needs to be done to move [drone] integration forward, but I’m very, very optimistic we will get there.”
Ducommun Inc. (Up 35.0%) – Shares are up after the company announced second quarter sales of $184.7 million, increasing 71% versus the second quarter of 2011, including sales of $80.3 million from the acquisition of LaBarge, Inc. The Company also reported that adjusted EBITDA grew to $21.3 million in the second quarter of 2012 from $11.1 million in the second quarter of 2011.
Computer Science Corporation (Up 26.1%) – Shares are up after the company announced solid first quarter 2013 results. CSC’s operating margin of 4.6% increased by 16 basis points from the previous year. The Company also saw operating cash flow of $221 million for the quarter, an improvement of $267 million year-over-year. While the North American Public Sector business line experienced an 8% topline decline, investors seemed to show more optimism, given revenue increases in the other business lines and new business announcements amounting to $4.0 billion.
NCI, Inc. (Up 22.8%) – Shares continued to rise after the company announced that it was awarded a $158.3 million competitive contract for fielding and logistics services in support of Program Executive Office Soldier, subordinate PEO Soldier offices, and other associated Department of Defense organizations with related missions.
Global Invacom Group Limited Acquired The Waveguide Solution Limited, a manufacturer of waveguide solutions for ship, aircraft, satellite, medical, radar, and communication systems, for $8.1 million in cash and stock. For the year ended February 29, 2012, The Waveguide Solution posted revenues of approximately $6.4 million.
LMI Aerospace, Inc. Acquired TASS, Inc., a premier aftermarket engineering and support services firm, for an undisclosed amount. LMI funded the purchase of TASS with internal cash. TASS is expected to generate approximately $17M in sales for full year 2012. The addition of TASS provides LMI Aerospace with a global presence in aftermarket engineering and builds on its history with Boeing products.