I think they've got their head in the sand, failing to recognize their market share is deteriorating and will continue to deteriorate much faster than they or anyone else anticipated a few years ago.
More Quotes from Chris Mecray:
They have still issues with demand on a couple of key areas of their business including the space launch side, the satellite manufacturing side and demand for some of their defense transport products. I'm heading over to an investor conference this morning where I expect them to talk about the turnaround in progress. They will focus on the increasing cash flows and I think we'll get a chance to ask them about some of those strategic issues.Chris Mecray
While they won't admit it, the primary driver of lower procurement costs will be by lowering prices out there, increasing competition through versus auctions.
Chris Mecray
Neither of those companies makes a significant portion of their money in the segment. It's a low-margin business. It's not bad business, but it's not going to move the needle more than a big defense contract, (or) maybe even a medium-size defense contract.
Chris Mecray
The money's coming from both side of the business. You have commercial aerospace with explosive growth. The commercial aircraft orders have been exceptionally strong over the course of the summer and also on the defense side of the business where government budgets have been picking up in the last couple of years and are not expected to continue to pick up through the next administration.
Chris Mecray
I think it's going to hurt them by around 15-to-20 cents a share, assuming it goes on to the end of the quarter.
Chris Mecray
I don't think there's a whole lot at stake. The Republicans are clearly more vocal about supporting defense, more vocal about specific issues. But there's no reason to assume the Democrats are bad for defense. It's not supported by hard facts.
Chris Mecray
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