Manufacturing features
Huntington Ingalls Industries reported effectively flat year-over-year revenues in the first quarter of 2013, but net earnings and operating income margins were up.
Officials at the world’s largest military shipbuilder said Wednesday that revenues slipped slightly to $1.562 billion in the most recent period from $1.568 billion the year before.
By Jared Council
jared.council@insidebiz.com
The first Paramount Sleep mattress sold in China last year had a price tag of about $16,000, well-received news for the family-owned, Norfolk-based company that broke into the Asian market in July.
Paramount executives have also been entering new domestic markets lately, inking deals with three manufacturers across the country over the past two years. Before October 2010, this third-generation company had no national presence, no international intentions and was a licensee producing another company's brands.
By Jared Council
jared.council@insidebiz.com
Huntington Ingalls Industries reported fourth-quarter and full-year 2012 profits Wednesday, though stakeholders on a conference call expressed concern about 2013, given the budget battles in Washington.
The shipbuilding company that includes Newport News Shipbuilding listed net earnings of $146 million in 2012, or $2.91 a share, compared to a $100 million loss, or $2.05 a share, for 2011.
By Lydia Wheeler
lydia.wheeler@insidebiz.com
Liebherr Mining Equipment, a longtime Newport News international manufacturing company, announced plans Tuesday to expand its operations and add 174 jobs to the regional workforce.
On the Peninsula since 1973, Lieb-herr Mining Equipment Newport News Co. manufactures mining trucks and earth-moving equipment at its 4100 Chestnut Ave. plant.
The location, which stretches into Hampton, serves as the company's North American headquarters for three additional operating companies.
By Philip Newswanger
philip.newswanger@insidebiz.com
The other white meat is red hot.
Just listen to Larry Pope, CEO and president of food processor Smithfield Foods, when he said at the company's third-quarter earnings conference call March 8 that exports make up 30 percent of the company's fresh pork sales.
Or read the latest statistics from the U.S. Meat Export Federation, an industry trade group that represents pork, beef and lamb exporters.
By Philip Newswanger
Philip.newswanger@insidebiz.com
Huntington Ingalls Industries won a $383 million contract from the U.S. Navy for overhauling the nuclear aircraft carrier USS Abraham Lincoln.
Work on the carrier, commissioned in 1989, will be done at Newport News Shipyard, a division of Huntington Ingalls.
The contract includes planning, design, documentation, engineering, material procurement, prefabrication and shipboard inspections.
More than 1,000 employees will be assigned to the contract, according to HII spokeswoman Christie Miller.
