The top US defense contractor, posted net income amounting to 83 cents a share, ahead of the analyst expectations compiled by Thomson First Call for a profit of 75 cents a share.

Revenue rose 11 percent to 9.965 billion dollars, also ahead of estimates.

The defense giant said revenue from its aerospace division dipped slightly due to a decline in fighter jet sales. Revenue from its electronics unit was boosted by work on tactical missile and air defense programs.

For 2004, the company's profit grew 20 percent to 1.3 billion dollars and revenues were up 12 percent to 35.5 billion.

"We had excellent performance in 2004, resulting from the dedicated efforts of our workforce," said Bob Stevens, president and chief executive.

"We will continue to deliver critical capabilities to our customers and focus on the fundamentals of our business while improving returns on invested capital and deploying cash to enhance shareholder value."

The company indicated that 2005 earnings would fall shy of current expectations as higher pension costs and stock option expenses will offset increased sales volumes and early debt retirement. It expects 2005 earnings of 3.05 to 3.30 dollars a share, below the average analyst estimate compiled by Thomson First Call. Revenue is anticipated to be 36 billion to 37.5 billion dollars, in the range of analysts' forecasts.

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