Strong defense unit buoys Boeing&#39;s profit
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Propelled by another potent performance from its defense unit, Boeing announced third-quarter results yesterday that surpassed investors&#39; expectations as profits climbed 78 percent from a year ago.
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Boeing Co., the US aerospace giant, reported a 78 per cent jump in third-quarter earnings, buoyed by a strong defence business, and raised its estimate for full-year profits due to a favourable tax outlook.
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Plane maker Boeing has said its third quarter profits shot up 78% from a year ago to $456m. The company also gave an upbeat forecast for the rest of 2004 and into 2005.
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Defense contractor Northrop Grumman Corp  said on Wednesday third-quarter profit rose more than expected, helped by strong sales at its information technology and shipbuilding units.
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The increased spending on the military helped drive a sharp increase in profits at plane-maker Boeing and defence contractor Northrop Grumman during the third quarter.
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Chicago-based Boeing Co. BA.N has  won a $928 million contract to field the ground-based midcourse  defense part of a planned U.S. missile defense shield, the  Pentagon announced on Monday.
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Lockheed Martin and Northrop Grumman see profits surge, helped by orders for the wars in Iraq and Afghanistan.
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Two large military contractors, the Lockheed Martin Corporation and the Northrop Grumman Corporation, reported higher fourth-quarter profits on Thursday, both citing strong military and civil electronics business.
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Boeing Co. BA.N on Wednesday topped  expectations with a 78 percent jump in quarterly profit on  strength in its defense operations, and raised its earnings  forecast for 2004.
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Boeing Co. and Northrop Grumman Corp., the second- and third-biggest US defense contractors, said third- quarter earnings rose as the military boosted spending on equipment to help soldiers communicate and track enemies.
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Boeing Co. on Wednesday topped Wall Street expectations with a 78 percent jump in quarterly profit on strength in its defense operations, and raised its earnings forecast for 2004.
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Diversified manufacturer United Technologies Corp.  posted a rise in quarterly profit, helped by strong infrastructure demand and a recovery in its aerospace business, the company said on Wednesday.
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Boeing Co  said on Wednesday  fourth-quarter profit rose a greater-than-expected 4 percent,  as higher deliveries of its commercial aircraft offset a dip in  military sales due to the creation of a satellite launch joint  venture.
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Lockheed Martin Corp , the world's largest defense contractor, said on Tuesday third-quarter profit rose 22 percent, helped by higher sales of its jet fighters and electronic warfare systems.
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Defense contractor Raytheon Co.  on Thursday said quarterly profit rose 16 percent, helped by higher U.S. government spending on its military products and lower tax payments.
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Boeing Co. BA.N on Wednesday posted  a 78 percent jump in quarterly earnings that beat Wall Street  forecasts as stronger demand for its military networking and  weapons systems helped offset a decline in commercial airplane  revenue.
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Diversified manufacturer United  Technologies Corp. UTX.N posted a rise in quarterly profit,  helped by strong infrastructure demand and a recovery in its  aerospace business, the company said on Wednesday.