Military spending bolsters U.S. defense contractors
Tuesday, August 3, 2004 at 05:29AM
TheSpook
Northrop Grumman, the world's largest builder of
warships, and Raytheon, the world's biggest missile manufacturer
reported strong second-quarter sales gains on record U.S. military
spending, but their profits were mixed. Northrop's sales climbed 12
percent to $7.37 billion, or E5.8 billion, as profit rose 44 percent.
Raytheon's sales increased 11 percent to $4.93 billion, as legal costs
resulted in a quarterly net loss. Demand for defense equipment also
helped increase quarterly sales and profit for aircraft landing-gear
maker Goodrich. [more]
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