Airbus parent EADS sees 4Q earnings fall

BERLIN (AP) ? 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 ?325 million ($425 million) in the October-December period, down 47 percent from the previous year's ?612 million.

The company said it took charges of ?198 million at its defense electronics contractor Cassidian, in part reflecting restructuring costs.

Renegotiating contracts with government customers resulted in a ?100 million charge at helicopter maker Eurocopter.

However, fourth-quarter revenues rose 17 percent to ?19.22 billion, with the core Airbus division posting a 36 percent increase.

Full-year net profit increased to ?1.23 billion from ?1.03 billion in 2011.

Source: http://news.yahoo.com/airbus-parent-eads-sees-4q-earnings-fall-072313394--finance.html

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