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Northrop to Lockheed Profits Unscathed by Budget Cuts

Three top weapons makers said across-the-board U.S. budget cuts that began March 1 won’t hurt their profits for the year.

General Dynamics Corp. and Northrop Grumman Corp. left their full-year outlooks unchanged today as they reported first-quarter net income that exceeded analysts’ estimates. Lockheed Martin Corp., the No. 1 defense contractor, reported much of the same yesterday.