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BAE lifts 2008 outlook on demand for armored cars - Yahoo! News Primary Navigation Home U.S. Business World Entertainment Sports Tech Politics Elections Science Health Most Popular Secondary Navigation Business Video U.S. Economy Stock Markets Earnings Opinion Personal Finance Press Releases Search: colorado used cars All News Yahoo! News Only News Photos Video/Audio Advanced BAE lifts 2008 outlook on demand for armored cars By Mark Potter Fri Aug 1, 4:41 AM ET LONDON (Reuters) - BAE Systems, Europe's bad credit used cars biggest defense company, lifted 2008 earnings expectations on Friday used cars in wa as it beat first-half forecasts, boosted by strong demand for armored vehicles for war zones in Iraq and Afghanistan. The British firm said earnings before interest, tax and amortization (EBITA) leapt 26 percent to 881 million pounds ($1.75 billion) in the six months to June 30. Excluding a 61 million pound profit on the disposal of its surveillance and attack business, this beat analysts' average forecast of 796 million pounds, according to a company poll. However, a 12 percent rise in sales to 7.75 used dirt race cars for sale billion pounds was below some analysts' forecasts, held back by a 19 percent drop in sales at the firm's Programs & Support business due to a transition on its Typhoon fighter jets program. Chief Executive Mike Turner, who will be succeeded by Chief Operating Officer Ian King next month, said demand was driven by a 29.5 percent rise in sales, excluding acquisitions, of armored bmw cars cars -- particularly mine-resistant ambush-protected (MRAP) vehicles. "We have a lot of long-term business in that sector, but clearly we are johnny lightning slot cars benefiting from current operations in Iraq and Afghanistan," he told reporters. BAE, the world's third-biggest defense company, said its order book stood at a record 41.1 billion pounds, up from 31.7 billion the used cars in iowa same time last year, and Finance Director George Rose expected analysts to lift their 2008 profit forecasts. Analysts are currently forecasting BAE to report full-year EBITA of 1.76 billion pounds, according electric cars with lithium batteries to a company poll. Morgan Stanley analysts said BAE shares looked attractive versus their U.S. peers, trading at 12.1 times forecast earnings against a U.S. sector average of 14.8 times. "(But) the lackluster top-line performance coupled with the overhang of the DoJ (U.S. Department of Justice) investigation is likely to somewhat offset the increased guidance," they said, keeping an "equal-weight" rating on BAE shares. PROSPECTS BAE is being investigated in the United States over corruption allegations stemming from a Saudi arms deal in the 1980s. A similar investigation in Britain was halted on fears that Saudi Arabia might stop sharing anti-terrorism intelligence cars codes if the probe continued. BAE has always denied any wrongdoing. At 0855 GMT, BAE shares were up 0.8 percent at 453.75 pence, outperforming a 0.6 percent fall on the UK's FTSE-100 index classic cars for sale of leading shares and valuing the company at about 16 billion pounds. Turner said BAE was looking to expand its six so-called "home markets" of Australia, Britain, Saudi smith motor cars Arabia, South Africa, Sweden and the United States, with a particular focus on India, and South Korea and Japan. "We see those three in particular as markets we'd like to add to our home market list," he said on a conference call. Turner was also relaxed about the prospects for U.S. defense spending under either U.S. presidential hopeful John McCain or Barack Obama. "The U.S., whether it's McCain or Obama, are determined to maintain national security (and) their role in the world. defense spending will stay at very, very high levels." BAE, which also makes howitzers, bridge-laying vehicles and self-propelled artillery, proposed an interim dividend of 5.8 pence a share, up from 5 pence the same time last year. (Editing by Will Waterman; editing by Sue Thomas) Email Story IM Story Printable View RECOMMEND THIS STORY Recommend It: Not at All Somewhat Moderately Highly Very Highly Average (Not Rated) » Recommended Stories Business News Stocks pull back after another decline in jobs AP GM posts $15.5B 2Q loss, 3rd-worst in its history AP Ford, Toyota US sales fall in July AP Jobless rate climbs as 51,000 jobs vanish AP Big Oil's biggest quarter ever: $51.5B in all AP Most Viewed - Business Wal-Mart denies that it told employees how to vote AP Jobless rate climbs as 51,000 jobs vanish AP Wal-Mart warns managers about labor bill Reuters GM posts $15.5B 2Q loss, 3rd-worst in its history AP Yahoo chairman defends merger stance at meeting Reuters Business Video July Auto Sales FOXBusiness used cars plainview - 1 hour, 8 minutes ago Wal-Mart Warning of Democratic Win CNBC - 1 hour, 26 minutes ago Obama heckled in Florida. 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Nissan's profit drops 43 percent on rising yen, provisions for declining value of leased cars japan earns nissan 073108 Home News Local Sports Lifestyle Entertainment Opinion Multimedia Classifieds Cars Homes Jobs Shopping Help Search: All News Local Websites coos bay used cars Yellow Pages Shopping Classifieds Paid Archives Jobs  Yellow Pages |  Advanced Search | Help Sell a car Post a job Sell your home Sell your stuff StarTribune.com content is available via e-mail, mobile devices and as RSS feeds. E-mail newsletters Mobile content RSS feeds On Sale calendar Coupons + Deals E-mail offers Advertise with us Home | Business Nissan's profit drops 43 percent on rising yen, provisions for declining value of leased cars Associated Press Last update: August 1, 2008 - 5:53 AM Print this story E-mail this story Save to del.icio.us Share on newsvine Share on Digg Minnesota business by the

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numbers See Minnesota's top earning companies, CEOs and non-profits Star Tribune 100 Executive compensation Non-profit 100 More from Business Costco shareholder files stock option lawsuit Citigroup faces charges by Cuomo, SEC probe Treasurys little changed after data, earnings Anheuser-Busch says data loss affects employees GM posts $15.5B 2Q loss, 3rd-worst in its history TOKYO - Nissan Motor Co. said Friday its net profit for the April-June quarter dropped 42.8 percent, hit by a rising yen and accounting provisions for the declining value of leased vehicles. Japan's third-largest automaker said net profit fell to 52.8 billion yen ($505 million) for the quarter, while sales fell 4.1 percent from grease cars a year earlier to 2.3 trillion yen ($22.4 billion). "In the face of the severe operating environment, Nissan remains resilient but cautious on the outlook for our industry," said Chief Executive Carlos Ghosn in a statement. "We have identified the major new cars for sale in albuquerque risks and taken actions to address wheel cars them, particularly in the U.S. market," he said. Despite a slump in demand in the U.S. and Japanese

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