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DRS Posts Higher Earnings, Sales In Fourth Quarter

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DRS Technologies [DRS] late last Thursday posted higher fourth quarter earnings and sales although it benefited in good measure from a restatement of a hefty charge from the first quarter of fiscal year 2008 to the company's fourth quarter of 2007. An 18 percent increase in sales to $939.4 million from $798.9 million was driven by strong organic growth in three of its four reporting segments, led by the Reconnaissance, Surveillance and Target Acquisition business area. Sales were down in…

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