Home | Business News | Browse by Publication | B | Business Wire

United Defense Posts Record Year Sales of $2.05 Billion as 4th Quarter Sales Reach $525 Million; Quarterly Net Income 54 Cents Per Diluted Share, Full Year $2.66.

Publication: Business Wire
Publication Date: 27-JAN-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

ARLINGTON, Va.--(BUSINESS WIRE)--Jan. 27, 2004

United Defense Industries, Inc. (NYSE:UDI) today reported net income of $28.8 million, or $0.54 per share on a fully diluted basis for the fourth quarter ended December 31, 2003. Net income for the full year 2003 was $140.6 million, or $2.66 per share on a fully diluted basis, compared with $134.6 million, or $2.55 per share fully diluted for 2002.

Provision for income taxes in 2003 was $74.6 million compared with $15.1 million in the same period of 2002. The increase was due to the unavailability of net operating loss carry forwards in 2003 that substantially offset income tax expense in 2002.

Fourth quarter revenues of $524.7 million were slightly higher than the $521.1 million in the year earlier quarter, driven by higher ship repair and maintenance activity, Non-Line of Sight (NLOS) Cannon development, and Assault Amphibious Vehicle deliveries more than offsetting lower Bradley Fighting Vehicle and M88 Hercules sales.

"United...

Read the FULL article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

  • Over 5 million business articles
  • Hundreds of the most trusted magazines, newswires, and journals (see list)
  • Premium business information that is timely and relevant
  • Unlimited Access

Now for a Limited Time, try Goliath Business News - Free for 3 Days!
Tell Me More   Terms and Conditions

Get Goliath Business News for 1 year - Just $99 (Save 65%)
Tell Me More   Terms and Conditions

Already a subscriber? Log in to view full article



More articles from Business Wire
Nexaweb Names New Chief Financial Officer and Treasurer., January 27, 2004
Retail Pro Gets Top Rankings in Overall Performance, Strategic Value, ..., January 27, 2004
Banner Corporation Fourth Quarter Net Income Increases to $4.4 Million..., January 27, 2004
Enea Embedded Technology Announces OSEck Real-Time Operating System fo..., January 27, 2004
Wyoming Ethanol Plant to Double Fuel Ethanol Capacity, an Advisory fro..., January 27, 2004

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.