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Article: United Kingdom : BAE Has Loss on Purchase Writedown Falling Land Vehicle Sales.

Article from:
TendersInfo
Article date:
July 30, 2009
Copyright

Byline: kusumv03

BAE Systems Plc, Europe s biggest weapons maker, posted a first-half loss after it wrote down the value of a U.S. acquisition and sold fewer land vehicles to the U.S. military.

The net loss was 82 million pounds ($135 million), or 2.3 pence a share, compared with profit of 586 million(USD965mn) pounds, or 16.6 pence, a year earlier, London-based BAE said today in a statement. That missed the average estimate of net income of 635.7 million pounds from six analysts surveyed by Bloomberg.

A significant reduction in deliveries of Mine- Resistant, Ambush-Protected, or MRAP, vehicles won t be completely offset this year by increases ...

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