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EADS reports higher profit for space unit
Posted: Thu, Mar 9, 2006, 1:35 PM ET (1835 GMT)
The European aerospace company EADS reported higher revenues and profits for its space division in 2005. In its annual earning release Wednesday, the company reported that the space division had earnings before interest and taxes of €58 million (US$69 million) for 2005, compared to just €9 million (US$10.7 million) in 2004. Revenues were also higher in 2005, at €2.70 billion (US$3.21 billion) versus €2.59 billion (US$3.08 million) in 2004. The company credited both its satellite manufacturing and launch vehicle manufacturing units for the increase in earnings. However, the size of the company's order book dropped 3% to €10.9 billion (US$13.0 billion) in 2005.
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