Impact of sequestration yet to come
Leading companies in the defence sector have yet to see any great effect of US sequestration as demonstrated by figures for the first half of 2013 as released on 24 July.
Boeing’s Defence, Space & Security business, Northrop Grumman and General Dynamics reported increased consolidated operating margins, and maintained or increased their 2013 EPS guidance.
Strong performances in expanding international markets as well as internal cost reductions have partially offset the minimal effects of sequestration and general budget cuts.
Wes Bush, CEO of Northrop Grumman, said: ‘Over the last several years, we’ve been proactive in positioning the company for a
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