Airbus parent EADS sees 4Q earnings fall

BERLIN (AP) -- Airbus parent company EADS NV says its net profit declined by nearly half in the fourth quarter as the company took charges at its helicopter and defense electronics divisions.

Full-year earnings, however, were up 19 percent.

EADS said Wednesday that it earned €325 million ($425 million) in the October-December period, down 47 percent from the previous year's €612 million.

The company said it took charges of €198 million at its defense electronics contractor Cassidian, in part reflecting restructuring costs.

Renegotiating contracts with government customers resulted in a €100 million charge at helicopter maker Eurocopter.

However, fourth-quarter revenues rose 17 percent to €19.22 billion, with the core Airbus division posting a 36 percent increase.

Full-year net profit increased to €1.23 billion from €1.03 billion in 2011.