Posted: Thu, May 15, 2008, 6:15 AM ET (1015 GMT)
The Astrium division of European aerospace company EADS reported higher revenues and profits in the first quarter of 2008 on Wednesday thanks to launch vehicle and military communications services work. Astrium reported earnings of €33 million (US$51 million) on revenues of €751 million (US$1.16 billion) in the first quarter, compared to earnings of €10 million (US$15.5 million) on €629 million (US$975 million) in revenues for the same quarter of 2007. The company said that increased Ariane 5 production, along with Paradigm military communications services, generated the increased revenues. The company credited the increased earnings to operational improvements, volume effects, and "de-risking" of the development program for the Galileo satellite navigation system.

Related Links:

•  Space News article (subscription required)
•  AP article
•  Wall Street Journal article (subscription required)
•  EADS press release