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Thursday, April 23, 2009

1st Quarter Financials

Lockheed's profits were down 8.7 percent in the first quarter. They claimed it was because they had higher pension expenses, but I am willing to bet it had something to do with Secretary Gates' (pbuh) attempts to tighten the Air Force's budget belt (e.g. Joint Strike Fighter, cap on F-22 purchases). Or, perhpas the restriction on the use of non-competitive contracts has something to do with it.

Northrop's first quarter profit rose almost 50 percent.

Raytheon posted a 14 percent increase in earnings.

Boeing's earnings dropped 47 percent...

Saab, who makes parts for both Boeing and Airbus, also took a loss.

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