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BAE Posts Solid 2008 Financial Results

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United Kingdom-based BAE Systems yesterday posted higher sales and earnings for its 2008 fiscal year led by growth in its defense business in the United States. BAE's U.S.-led defense work accounted for 59 percent of the company's $26.5 billion in sales in 2008, which were up 18 percent from $22.5 billion in 2007. The organic sales increase was driven by the higher U.S. sales, which benefited from work on the Mine Resistant Ambush Protected (MRAP) vehicle program. Net income for…

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