Mississauga, ON -- (SBWIRE) -- 03/28/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Magellan Aerospace Shares Nip Higher on Strong Earnings and Revenue in 2012.”
Companies mentioned in this article include Magellan Aerospace Corp. (TSX:MAL), Boeing Co. (NYSE:BA) and Lockheed Martin Corp. (NYSE:LMT).
The U.S. Commerce Department said on Tuesday that new orders for durable goods, or items from kitchen appliances to trains that are meant to last more than three years, advanced 5.7 percent in February after declining in January. The gains in the last month were largely fueled by resurgence in aircraft orders. Defense orders for core capital goods, or items that are used in the production of other goods, swelled $3.3 billion, or 68.0 percent, to $8.1 billion.
The increase in orders of defense capital goods and aircrafts bodes particularly well for companies like Magellan Aerospace Corp. (TSX:MAL), a manufacturer of parts and assemblies for civil and defense aircrafts and helicopters, primarily in Canada, the U.S. and United Kingdom. In 2012, about 70 percent of Magellan’s revenue wes generated through sales in the commercial aircraft market.
Magellan supplies components to major manufacturers such as Boeing Co. (NYSE:BA), Lockheed Martin Corp. (NYSE:LMT) and Airbus.
The full version of this article can be found at:
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