Armor Holdings 4Q profit up slightly |
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Thu, 01 Feb 2007 00:04
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JACKSONVILLE, Fla. (AFX) - Military contractor Armor Holdings Inc. said Wednesday fourth-quarter profit rose slightly, as surging costs offset a jump in revenue.Armor Holdings earned $37.8 million, or $1.02 per share, compared with $37.6 million, or $1.04 per share, for the same quarter in 2005.Excluding the impact of the Stewart & Stevenson acquisition and other one-time charges and gains, Armor Holdings earned an adjusted $38 million, or $1.03 per share, for the 2006 period, compared with an adjusted $39 million, or $1.08 per share, in the 2005 period.Revenue rose 77 percent to $800.7 million from $452.7 million in the year-ago period.The results beat Wall Street predictions. Analysts polled by Thomson Financial had expected a profit of 97 cents per share, excluding charges, on $800.8 million in revenue.The cost of sales rose to $659.5 million from $350.9 million in the 2005 period, largely on additional investments in research and development and in sales and marketing, as well as higher legal fees.For the full year 2006, Armor Holdings earned $134.6 million, or $3.64 per share, compared with $132.5 million, or $3.70 per share, for 2005.Armor Holdings shares lost 11 cents at $60.39 in the aftermarket.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Armor Holdings wins $56.3M contract 