Airbus parent EADS sees 4Q earnings fall
Airbus parent company EADS NV says its net profit declined by nearly half in the fourth quarter as the company took charges at its helicopter and defense electronics divisions.
Full-year earnings, however, were up 19 percent.
EADS said Wednesday that it earned $425 million in the October-December period, down 47 percent from the previous year.
The company said it took charges at its defense electronics contractor Cassidian, in part reflecting restructuring costs.
Renegotiating contracts with government customers resulted in a charge at helicopter maker Eurocopter.
However, fourth-quarter revenues rose 17 percent, with the core Airbus division posting a 36 percent increase.
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