Thales nine-month sales dip 0.5 pct, keeps outlook

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Nine-month revenues at French defence company Thales dipped 0.5 percent to 8.614 billion euros as civil aerospace growth broadly compensated for weaker defence and security, said the French company.

Europe’s largest defence electronics company again predicted of slight growth in revenues this year and disclosed a 15 percent jump in orders on the back of a deal to upgrade Mirage fighters in India in the last quarter.

The nine-month figures were in line with analyst expectations of a flat overall sales performance at the company, which makes avionics and in-flight entertainment systems for airliners and drones and warplane systems, Reuters reports.

Thales said that for the full year it still expected slightly higher revenues and a book-to-bill ratio, or ratio of new orders to sales, of about 1. Defence and aerospace revenues usually lag orders by several years.



Thales said it continued to target operating profit margins of 5 percent for 2011 and 6 percent for 2012.