- The Washington Times - Friday, July 26, 2002

United Defense Industries Inc. said yesterday that profits soared 74 percent for the second quarter ended June 30.

The Arlington manufacturer of the Crusader artillery gun said net income rose to $27.3 million (52 cents per share) from $15.7 million (37 cents) a year earlier.

Sales fell 8 percent to $318 million from $346 million.

United Defense attributed the increase in profits to initial deliveries of combat vehicles ordered by Turkey. The company said production of the Crusader has been "on schedule, on budget," which is important for a product that accounts for a quarter of United Defense's revenue.

United Defense, a subsidiary of District-based Carlyle Group Inc., also has been hired to make guns for the new U.S. Navy destroyer, DD(X), which the company continues to work on despite challenges to its contract.

Among other local companies reporting earnings yesterday:

•Potomac Electric Power Co. of the District reported a 5 percent decrease in consolidated earnings for the second quarter ended June 30 to $45.7 million (43 cents) from $48.2 million (45 cents) a year earlier.

•MedImmune Inc., a Gaithersburg biotechnology company, posted a net loss for its second quarter ended June 30 of $29.5 million (12 cents) compared with a loss of $9.2 million (4 cents) a year ago.

•CSX Corp., the Richmond-based railroad owner, said net income for its second-quarter ended June 30 rose 25 percent to $135 million (63 cents) from $108 million (51 cents) a year earlier.

•Celera Genomics Group, a Rockville biotechnology company, reported net losses for its second quarter ended June 30 declined to $28.8 million (42 cents) from $101.7 million ($1.66) a year earlier.

•LaFarge North America Inc., a Reston producer of cement and construction materials, said earnings for its second quarter ended June 30 rose 23 percent to $107 million ($1.44) from $86.7 million ($1.19) a year earlier.

•RWD Technologies Inc., a business- and technology-solutions company in Columbia, Md., reported net losses for its second quarter ended June 30 widened to $2.2 million (14 cents) from $1.6 million (10 cents) in the like period the previous year.

•Halifax Corp., an Alexandria information technology company, reported earnings for its second quarter ended June 30 jumped to $143,000 (7 cents diluted) from $18,000 (1 cent) a year earlier.


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