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BUSINESS NEWS

21 Feb 08. US sales lift BAE Systems profit. Profits at BAE Systems increased 44% last year to £1.2bn. It reported strong sales at Armor Holdings, the US manufacturer of military vehicles, which it bought for £2.2bn ($4.5bn) last year. BAE Systems is increasing the dividend it pays to shareholders to 12.8p per share from 11.3p in 2006. The UK government’s decision to drop a corruption inquiry into BAE’s deal to supply arms to Saudi Arabia is the subject of a legal challenge. Chief executive Mike Turner said BAE Systems had a strong order book and that he expected another good year in 2008. The company said Saudi Arabia continued to be an important home market. In September last year, it signed a new agreement with the kingdom to supply 72 Typhoon fighter aircraft. (Source: BBC)

17 Feb 08. Goodrich announced the creation of ISR (Intelligence, Surveillance and Reconnaissance) Systems, a new strategic business unit that encompasses the former Optical & Space Systems electro- optics units. Products produced by ISR Systems serve military and industrial markets and include long-range reconnaissance sensors, electro-optical technology for space deployment, laser warning systems and advanced miniature shortwave infrared vision technology. Headquartered in Chelmsford, Mass., the company performs research and manufacturing operations there as well as in Danbury, Conn., Albuquerque, N.M., Princeton, N.J., Ithaca, N.Y., and Malvern (UK). The business unit offers a broad spectrum of proprietary ISR products as well as some specialty industrial products. Businesses within ISR Systems have been providing advanced electro-optical systems for more than 50 years. Since the era of the cold war the team has worked closely with the U.S. Air Force in the development and manufacture of advanced cameras for the U-2 spy plane, providing critical intelligence while keeping the warfighter out of harm’s way. In the race for space, company engineers designed and developed critical systems for payload applications. Subsequent space activities have included work on the Space Shuttle and the Hubble Space Telescope. Today the products and people of ISR Systems support armed forces on the ground and in the air, and also provide mission critical space systems that advance the state-of-the-art.

20 Feb 08. Morgan Crucible has held out the prospect of returning more cash to shareholders after reporting its highest profit in six years. The company, which makes carbon and ceramic components for products ranging from military body armour to medical instruments, reported a rise of 48 per cent in pre-tax profits to £71.7m ($139.6m) on Tuesday on a constant currency basis for the year to January 4. It also lifted its total dividend 50 per cent to 6.75p per share. (Source: FT.com)

14 Feb 08. Curtiss-Wright Controls Embedded Computing has acquired the business and assets of Pentland Systems Ltd., Livingston, Scotland, UK a leading supplier of rugged signal acquisition solutions. The purchase greatly enhances Curtiss-Wright’s sensor processing product portfolio adding RF/IF signal acquisition, analog, digital I/O and synchro/resolver products for radar, software defined radio (SDR) and signal intelligence applications. Pentland’s products and technology will be organized under Curtiss-Wright Controls Embedded Computing’s Modular Solutions group, and will be managed by Rob Hoyecki, Director of the Digital Signal Processing Division.

14 Feb 08. Saab (SAABb.ST: Quote, Profile, Research) reported higher-than-expected fourth-quarter pretax earnings on Thursday and said it expected to develop this year in line with its long-term goals. The firm posted a pretax profit of 1.18bn Swedish crowns versus a year-ago versus a mean forecast of 978m in a Reuters survey of six analysts. The Sweden-based firm said it forecast an organic sales growth of 5 percent and an operating margin of 10 percent in 2008. (Source: Reuters)

14 Feb 08. (NYSE: CGT; TSX: CAE

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