Spoonman
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- Jul 15, 2010
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But libs said it was all bush and cheney getting rich with their friends
Arms makers boost profits despite Pentagon budget headwinds - Yahoo! Finance
WASHINGTON (Reuters) - U.S. arms makers reported higher quarterly earnings on Wednesday despite Pentagon budget cuts, with many raising their full-year forecasts, but the companies' order books showed an increasingly tough market.
The Pentagon began implementing $37 billion in mandated budget cuts for fiscal 2013 in March, and it faces additional cuts of $50 billion annually over the next nine years unless Congress acts to avert a process known as "sequestration."
Northrop Grumman Corp , which builds unmanned planes and high-end electronic equipment, and Boeing Co , maker of F/A-18 fighter jets and aerial refueling planes, on Wednesday joined industry leader Lockheed Martin Corp in boosting earnings and raising their earnings forecasts.
Arms makers boost profits despite Pentagon budget headwinds - Yahoo! Finance
WASHINGTON (Reuters) - U.S. arms makers reported higher quarterly earnings on Wednesday despite Pentagon budget cuts, with many raising their full-year forecasts, but the companies' order books showed an increasingly tough market.
The Pentagon began implementing $37 billion in mandated budget cuts for fiscal 2013 in March, and it faces additional cuts of $50 billion annually over the next nine years unless Congress acts to avert a process known as "sequestration."
Northrop Grumman Corp , which builds unmanned planes and high-end electronic equipment, and Boeing Co , maker of F/A-18 fighter jets and aerial refueling planes, on Wednesday joined industry leader Lockheed Martin Corp in boosting earnings and raising their earnings forecasts.
