Defense Contractors To See Lower 2012 Profits: S&P

Law360, New York (November 22, 2011, 4:20 PM EST) -- Most U.S. defense contractors can expect flat or declining revenues in 2012, according to a Monday report by Standard & Poor's that placed part of the blame on the congressional deficit-reduction supercommittee's failure to come together on a deficit deal.

With the supercommittee's announced failure, the defense industry must brace for sequestration, a procedure that will trigger $1.2 trillion in across-the-board, automatic spending cuts, half of which will fall on the U.S. Department of Defense. That $600 billion cut is in addition to $450 billion in...
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