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U.S. Division Powers QinetiQ’s First Half Results

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Britain's QinetiQ last Wednesday posted strong six month financial results driven by the company's United States-based division, which is benefiting from supplying ground robots and armored products to troops in Iraq and Afghanistan and from service work for NASA and the Army. Net profits soared 28 percent to $43.1 million from $33.7 million on higher sales and improved operating margins. Sales increased 13 percent to $1.1 billion from $970.9 million, with 9 percent of the growth organic. Backlog was up…

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