Higher Earnings for Military Contractors
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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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Defense contractor Raytheon Co.  on Thursday reported higher fourth-quarter profit, helped by strong sales of its missile systems and other military electronics.
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Orthopedic device maker Biomet Inc.  BMET.O on Friday reported higher quarterly earnings before  acquisition charges as sales of its hip and knee replacements  increased.
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The military contractor posted net income of $489 million, paced by sales gains at its shipbuilding and information technology units.
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A run of healthy profits for defense contractors that has lasted nearly a decade will continue for at least another year, analysts and company executives said after the Bush administration last week submitted its new defense budget.
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Northrop Grumman Corp. NOC.N  reported higher third-quarter earnings on Wednesday and an 11-  percent increase in sales on strength in its mission systems,  integrated systems, ships and space technology businesses.
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YESTERDAY Close $52.56 Change +$0.66 52-WEEK High $54.17 Low $40.57 Raytheon Co. said fourth-quarter earnings rose 32 percent, driven by growing defense contract bookings and strong sales of missiles and battle operations communications systems.
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By Timothy R. Gaffney, Dayton Daily News, Ohio  Sep. 9--An Air Force contract worth $627.8 million should generate local  high-tech jobs and shows what was at stake in last year's military  base-closing process, a Dayton Development Coalition executive said Friday.
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Military contractors Northrop Grumman and General Dynamics posted higher third-quarter profit and raised their financial forecasts due to strong Pentagon spending.
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Defence firm BAE Systems posts a 15% rise in half-year profits after seeing a strong increase in sales.
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Contractors get a boost from a major west African project.
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HMS Holdings has seen an increase in revenues and net income.
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Defense contractors continue to prosper with increased government spending on defense.
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No. 1 U.S. defense contractor Lockheed  Martin Corp. LMT.N reported a 41 percent rise in quarterly  profit on Tuesday, beating Wall Street forecasts, as demand  soared for its combat aircraft and information technology  services.
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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.  on Wednesday reported a higher third-quarter profit on revenue growth in its defense business and strong performance in its commercial aircraft building operations, and said it raised its earnings forecast for 2004.
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Lockheed Martin Corp., the No. 1 U.S.  defense contractor, on Thursday posted an 8 percent jump in  quarterly profit, helped by sales of Patriot missiles and other  products made by its electronic systems business.