On January 19, 2010
Is QinetiQ The Bellweather For Smaller Defense Contractors?
Two years ago QinetiQ (UK:QQ) was one of the darlings of the defense contractor world. A new, aggressive company formed from privatizing parts of the British Ministry of Defence’s test organizations and personnel it went public a few years ago. QinetiQ had a profit of over one billion dollars in 2008 much of it gained through buying companies in the United States and winning contracts there. QinetiQ also worked to sell off some of its lower performing assets in England. This process while enhancing revenue did not make it popular with its English employees many of whom were former, unionized civil servants. The last year though has not bee that good for the company. The CEO, Graham Love, who had…
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