US aerospace giants have raised their revenue projections for this year and next, based on increased defence sales, but profitability remains variable. Boeing's third quarter net income dropped 31% to $256 million after a $184 million charge to close the 757 line, but defence sales rose 12% and the company has increased its revenue forecast to $50 billion for 2003 and $52 billion for 2004.
Lockheed Martin's third-quarter income fell 15% to $217 million as it paid off debt, but revenues jumped 38% on higher aircraft sales and the company has increased projections to $31-$32 billion in 2003 and $33-$34 billion in 2004.
Acquisitions helped Northrop Grumman's third-quarter income soar 59% to $224 million, while revenues rose by a similar percentage, and the company is forecasting sales approaching $26 billion in 2003 and $28 billion in 2004.
Raytheon lost $35 million in the third quarter, but revenues rose 7% and the company is projecting sales growth of 8-10% next year, from almost $18 billion this year.
Source: Flight International
