July 31, 2011 |
As they encounter uncertainty about future Pentagon spending, some of the largest local defense contractors are already seeing sales and profits flatten. Lockheed Martin, the world's biggest defense contractor, last week reported that profit declined 11 percent in the three-month period ended June 26, compared to the same period a year ago. Still, quarterly revenue increased slightly, to $11.55 billion, and company officials attributed the earnings drop to the divestment of Pacific Architects and Engineers, which Lockheed sold in April.
February 5, 2012 |
Recent earnings reports show that many government contractors have been able to maintain their profits through cost-cutting despite declining or flattening sales, but analysts are questioning how long companies can keep that up. Take Falls Church-based Northrop Grumman , which said profits grew at the end of 2011. The company's sales fell nearly 6 percent, to $6.51 billion, in the fourth quarter compared with a year earlier. But Northrop still posted profit of $548 million ($2.09 a share)
February 24, 2013 |
Fairfax-based ManTech International said last week its quarterly profit fell nearly 34 percent in the face of declining customer demand. The company reported profit of $20.2 million (55 cents a share) for the three-month period ended Dec. 31, down from nearly $30.5 million (83 cents) in the same period a year earlier. Quarterly revenue dipped about 9 percent to $621.8 million. Kevin M. Phillips, ManTech's chief financial officer, said during a call with investors last week that some purchases were "pulled back...
February 28, 2008 |
The Washington Post Co. 's 2007 profit fell 11 percent from 2006, as the continued revenue slide at the company's flagship newspaper offset its highflying education division, Kaplan, the company reported yesterday. The Post Co. earned $289 million ($30.19 per share) on $4.2 billion in revenue in 2007, compared with a $325 million profit ($33.68) on $3.9 billion in revenue in 2006, the company said. In the fourth quarter, profit was $83 million ($8.71) on $1.1 billion in revenue, down 13 percent from a profit of...
October 27, 2009
NEWARK, N.J. -- Public Service Enterprise Group Inc. , which generates, transmits and distributes electric energy, said Wednesday its third-quarter profit fell 26 percent, which compared unfavorably with the same quarter last year. The weak economy and cool weather cut into demand and pricing, the company said. Net income of $488 million, or 96 cents per share, compared with $656 million, or $1.29 per share, for the same quarter in 2008. Last year's third quarter included a profit on the sale of discontinued operations...
May 9, 2012 |
Mortgage giant Fannie Mae on Wednesday reported a $2.7 billion profit during the first three months of the year, saying it would not require additional taxpayer aid for the first time since the government seized the troubled firm in 2008. The company had reported a $2.4 billion loss the previous quarter and a $6.5 billion loss during the same period a year ago. Fannie Mae attributed its positive numbers largely to improvements in the nation's housing market, including stabilizing home prices, falling mortgage delinquency...