Business

November 9, 2012

Finmeccanica third quarter earns triple on cost cuts

Finmeccanica, the Italian aerospace and defense giant, tripled earnings in the third quarter due to cost-cutting, improved margins and better sales of products like helicopters.

The company, which is 30-percent owned by the government, Nov. 8 reported net profit of $95 million in the quarter ended Sept. 30. It made €25 billion last year, excluding a one-time 2011 writedown of €753 million related to faulty components it supplied for Boeing’s 787 airliner.

Revenues for the quarter rose 8 percent to €4.1 billion from €3.8 billion in the same period last year.

CEO Giuseppe Orsi said the results indicated progress from the restructuring plan undertaken last year.

The company, meanwhile, remains at the center of a growing corruption probe. AP

 




All of this week's top headlines to your email every Friday.


 
 

 

Headlines July 23, 2014

News: Israel’s Iron Dome defense in line for tripled U.S. spending - Israel’s iron Dome missile defense system may end up getting triple the U.S. funding that the Defense Department sought for it in March. Ukraine asked U.S. for systems to counter Russian missiles - A month before the United States says a Russian missile likely brought...
 
 

News Briefs July 23, 2014

U.S. military deaths in Afghanistan at 2,194 As of July 22, 2014, at least 2,194 members of the U.S. military had died in Afghanistan as a result of the U.S.-led invasion of Afghanistan in late 2001, according to an Associated Press count. The AP count is three less than the Defense Department’s tally. At least...
 
 
Raytheon photograph

Raytheon completes key Air, Missile Defense Radar reviews

Raytheon photograph Partially-populated, full-sized Air and Missile Defense Radar array. Raytheon has completed two critical program reviews for the new Air and Missile Defense Radar, the U.S. Navy’s next generation integ...
 

 
Insitu photograph

Insitu demonstrates long endurance capabilities of Integrator unmanned aircraft

Insitu photograph Insitu’s Integrator unmanned aircraft recovers via SkyHook; the aircraft recently completed a 24-hour endurance flight. Insitu announced July 22 the successful 24-hour flight of its Integrator unmanned a...
 
 

NASA partners punctuate summer with spacecraft development advances

Spacecraft and rocket development is on pace this summer for NASA’s aerospace industry partners for the agency’s Commercial Crew Program as they progress through systems testing, review boards and quarterly sessions under their† Space Act Agreements with the agency. NASA engineers and specialists continue their review of the progress as the agency and partners move...
 
 

U.S. Navy selects Northrop Grumman for ship self-defense system

The U.S. Navy has awarded Northrop Grumman a $12 million task order for a full range of engineering services to continue modernizing the Ship Self-Defense System Mark 2. The contract has a potential value of $61 million over five years, if all options are exercised. SSDS MK2 is a combat system designed for anti-air defense...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>