MORSON International Aerospace Engineering - meet agent Nosrom, Salford Uni
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XCOR Aerospace - Extended Interview - Andaaz
Sometimes at Andaaz, we have too much content to fit into just one episode. So why not share that missing stuff with the rest of the universe, online.. We go...

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By Masam Abbas - April 23, 2013 | Tickers: BEAV, NOC, BA | 0 Comments

Masam is a member of The Motley Fool Blog Network -- entries represent the personal opinion of the blogger and are not formally edited.

After Obamas signing on defense sequestration and budget cuts, many have formed a bearish point of view on the aerospace and defense stocks. Lets see if this point of view needs to be rectified to some extent.

The large-cap defense stock, Northrop Grumman (NYSE: NOC), reports on April 24. The company is expected to post EPS of $1.74 according to consensus estimates.

The following organic growth rates are expected for each of the companys segments:

(1) Information Systems down 10%,

(2) Aerospace Systems down 2%,

(3) Electronic Systems down 1%

(4) Technical Services down 9%

The company is expected to burn a free cash flow of $200 billion. This has been the norm in the first quarter of the year, given the seasonality of Northrops free cash flow generation.

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Sequestration: Is it a Valid Reason to Short the Aerospace industry?

Celestica Inc. (CLS) is betting on industries from health care to aerospace to fill the sales void left by BlackBerry, which a year ago made up 19 percent of the electronics-parts suppliers revenue.

The Toronto-based components maker expects revenue to grow by modest double digits in its so-called diversified category after winding up assembly work for BlackBerry in late 2012, Celestica Chief Executive Officer Craig Muhlhauser said.

Muhlhauser, 64, said he realized he had to do something about his companys dependence on BlackBerry toward the end of 2011, when the smartphone maker, then known as Research In Motion Ltd. (BB), was struggling against Apple Inc. (AAPL) and Samsung Electronics Co.

The momentum was not in RIMs favor, and they seemed to be lost from a product strategy standpoint, Muhlhauser said in an interview yesterday in Toronto. As BlackBerry sales tumbled, it became a big overhang on the company -- it just overtook us, said Muhlhauser.

Celestica announced in June it would stop building BlackBerrys. The diversified category, which also includes defense, industrial and semiconductor customers, accounted for 24 percent of revenue in the first-quarter earnings released yesterday, up from 19 percent a year ago.

The strategic shift has just begun, and Celesticas challenge will be to rebuild sales, said Shawn Harrison, an analyst at Longbow Research in Independence, Ohio. The potential customers Celestica is eyeing in the diversified business offer opportunities because they havent traditionally turned over their manufacturing for an outsider to handle, he said.

These markets are less outsourced. The challenge is many of the program wins are much smaller, Harrison said. If you won a large telecoms program in the past it could be a half- billion dollars. These could be $100 million, but many are $5, $10, $15, $25 million, Harrison said by phone. On the other hand, those smaller contracts also can be more profitable, he said.

BlackBerry has been losing market share for three years as its aging lineup of smartphones with a slower Web browser and smaller range of applications led consumers to opt for rival devices like the iPhone. BlackBerry is now betting on a new operating system and refreshed phone lineup to woo back customers.

Celesticas sales fell 19 percent to C$1.37 billion ($1.33 billion) in the first quarter from a year earlier, the company said yesterday. Revenue this year is expected to slide 9.7 percent, according to the average estimate of 13 analysts surveyed by Bloomberg.

The company posted profit of 16 cents a share excluding stock compensation and other charges, beating the average analyst estimate of 15 cents in a Bloomberg survey. The stock rose 1.7 percent to C$8.44 at 9:59 a.m. in Toronto. They remain little changed in the past year as the Standard & Poors Information Technology Sector Index (STINFT) climbed 14 percent.

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Celestica Fills BlackBerry Gap With Aerospace: Corporate Canada

JAKARTA, Indonesia, April 23, 2013 /PRNewswire/ -- Frost & Sullivan today presented 3 awards to the best and brightest in the Indonesian Aerospace industry at the 2013 Frost & Sullivan Indonesia Aerospace Awards.

In its second time, the 2013 Frost & Sullivan Indonesia Aerospace Awards was held in Jakarta in conjunction with the Airlines & Airports 2013 Conference & Exhibition and officiated by Bapak Herry Bakti Singayuda Gumay as the Chairman, Advisory Board of Indonesia Aviation Forum and Bapak E.E. Mangindaan, Minister of Transportation, Republic of Indonesia. The awards recognize best practices in management, service and industry excellence within Indonesian Aerospace industry.

"Recipients of the 2013 Frost & Sullivan Indonesia Aerospace Awards were selected by industry analysts by comparing market participants and measuring performance through in-depth interviews, analysis, and extensive secondary research. We are proud and happy to host the 2nd Indonesia Aerospace Awards together with Airlines & Airports 2013 Conference & Exhibition and celebrate best practices in Indonesian aerospace industry," said Eugene van de Weerd, Country Director, Frost & Sullivan Indonesia in his welcome remarks.

Subhranshu Sekhar Das, Director-Asia Pacific, Aerospace & Defense Practice at Frost & Sullivan noted that the Awards recognize the talents of Indonesian companies that have exceeded the market expectations of product and service.

"The volatile nature of the industry has pushed industry players, especially the Asian players, to focus on implementing best practices within their operations. This has resulted in quality of delivery and results-driven client relationships, positively impacting the global aviation landscape," Subhranshu explained.

An independent panel of eminent judges participated in a judicious evaluation and selection process to determine the award recipients. This year's panel judges consists of Bapak Richard Budihadianto, Chairman of Indonesian Aircraft Maintenance Shop Association (IAMSA); Bapak Dudi Soedibyo, Senior Editor of Angkasa magazine; Bapak Alvin Lie and Bapak Gerry Soejatman as the Indonesian aviation observers.

Frost & Sullivan congratulates all the recipients of the 2013 Frost & Sullivan Indonesia Aerospace Awards

Award

Recipient

2013 Best Performing Indonesian Airport of the Year

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Frost & Sullivan Announces the 2013 Frost & Sullivan Indonesia Aerospace Awards Recipients

By Ross Marowits, The Canadian Press

MONTREAL - Demand for aerospace engineers will accelerate over the next few years as three European companies announced plans that create nearly 200 jobs in Montreal.

The Austrian, French and German companies said Monday they were attracted to the city because of the availability of trained workers and their ability to work with large locally based companies such as Bombardier (TSX:BBD-B.TO - News).

German company PFW plans to move its Seattle-based aerospace tube and duct systems North American headquarters to Montreal.

"We're going to basically build on our engineering capability, hopefully go forward into manufacturing also over the next two or three years and build this as our North American hub," said Ian Sidsaff, general manager of PFW Aerospace Canada.

The firm hopes to hire about 100 people in the city over three years to join its global workforce of 2,500.

They will initially provide engineering services to the area's large equipment manufacturers and eventually become a parts supplier for Bombardier and other customers.

PFW plans to bring in about 25 engineers from abroad and then build up and train a local workforce of graduates and other employees.

Finding skilled engineers isn't easy given the number of Quebec aerospace companies working on new and existing programs.

But Sidsaff said the experience level in Montreal is relatively high compared with other aerospace hubs around the world.

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Three European aerospace firms to set up in Montreal, create nearly 200 jobs

MONTREAL, QUEBEC--(Marketwired - Apr 24, 2013) - The Honourable Christian Paradis, Minister of Industry, today addressed the aerospace industry at Aeromart Montral. The Minister highlighted Economic Action Plan 2013 measures that support Canada's aerospace industry and promoted Canada as an excellent investment destination and source for supply chains.

"Our government has created a sound economic framework to attract investments, promote economic growth, and create jobs and prosperity for hard-working Canadian families," said Minister Paradis. "Canada is a prime destination for international ventures across the economy, including the aerospace industry. I am happy to say the numbers support that."

The Minister told delegates that the government is taking action on the Review of Aerospace and Space Programs and Policies and is committed to partnering with them. The Honourable David Emerson, Head of the Aerospace Review, presented his report to the Minister of Industry last November.

"Our government promised to act on the recommendations made in the Emerson report, and we did just that. Through Economic Action Plan 2013, we addressed four of the report's most important recommendations," said Minister Paradis.

In particular, the Strategic Aerospace and Defence Initiative will receive close to $1 billion over five years, and the program will be reviewed to ensure that it continues to respond to the needs of this sector.

In addition, Economic Action Plan 2013 will provide funding to create a new large-scale Technology Demonstration Program with $110 million over four years and $55 million a year thereafter. Economic Action Plan 2013 also commits to the launch of consultations for the creation of a National Aerospace Research and Technology Network and to enhanced access to aircraft safety certification.

Aeromart Montral is one of the major events for the Canadian aerospace sector, bringing together industry representatives from Canada and abroad.

Originally posted here:

Minister Paradis Highlights Harper Government's Commitment to Aerospace and Declares Canada "Open for Business"

Overview

The aerospace and defense industry found its largest base in the U.S. with a military budget fittingly impressive. The country's global leadership position requires it to maintain the capacity to respond to the ever-changing national security environment. But unlike many other countries, the U.S. relies on the private sector to meet its defense needs.

The U.S. Army, Air, and Naval forces enter into long-term contracts with aerospace and defense companies to meet their various needs for systems and equipment. As such, the outlook for the industry is closely tied to the outlook for defense spending by the U.S. government.

Earlier this month, the Obama administration proposed defense budget for FY14 of $526.6 billion, down $0.9 billion from the FY13 annualized continuing resolution level of $527.5 billion. However, the FY14 request does not yet include a detailed budget for Overseas Contingency Operations ("OCO"), which is essentially government-speak for foreign wars and war on terror operations. The government is preparing a separate OCO request that is expected to be released soon.

Under the continuing resolution, OCO funding for FY13 is $88 billion. This is lower than the $115 billion enacted for FY12 OCO activities as a result of reduced operations in Afghanistan and conclusion of operations in Iraq. Going forward, OCO funding is expected to continue to decline as troops redeploy out of Afghanistan. In fact, the request for future OCO funding will likely be closely correlated to the amount of troops required for each operation.

Budget Issues - the Sequester

The budget sequester that went into effect at the start of March 2013 and that has a direct bearing on the U.S. government's defense spending is a function of the country's fiscal and economic challenges.

As a background, Congress passed the Budget Control Act of 2011 in order to resolve the debt-ceiling crisis. The Act provided for a Joint Select Committee on Deficit Reduction known as the super committee to produce legislation by late Nov 2012 that would decrease deficit by $1.2 trillion over ten years.

However, Congress failed to reach an agreement. This would have led to automatic cuts known as sequestrations, split evenly between defense and domestic spending, beginning on Jan 2, 2013. However, the 'Fiscal Cliff' was averted at the last moment and the date was postponed by two months by the American Taxpayer Relief Act of 2012.

But it finally took effect last month. The cuts as a result of the budget sequester are evenly between the defense and non-defense categories. The spending reductions are approximately $85.4 billion during fiscal year 2013, with similar cuts for years 2014 through 2021.

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Aerospace & Defense Stock Overview - Apr 2013