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Defense Contractors Upbeat About 2004 Results
U.S. defense contractors expect to see solid performance in 2004 and are upbeat about the Fiscal 2005 military spending level, with some questions emerging as to what lies ahead in 2006.
Lockheed Martin and Raytheon reported strong sales growth for 2003, including the fourth quarter. And in earnings reports issued last week, both projected increases again in 2004, with Lockheed Martin suggesting a more modest uptick for 2005.