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Business/Financial

BAE’s 2007 Profit Dives On Sale of Stake In Airbus

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Britain's BAE Systems recently said net income last year fell 44 percent due to a one time benefit the company received in 2006 related to the sale of its stake in jet plane maker Airbus, which is owned by the European Aeronautic Defence and Space Co. Net income last year was $1.8 billion versus $3.2 billion in 2006. However, excluding the gain from the Airbus related sale, operating profits from continuing operations managed a nearly 10 percent gain to $2.3…

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