NEW YORK, April 29 (UPI) -- Declines in revenues last year were recorded by 17 of the top 20 U.S. defense contractors but profitability increased, a new study shows.
Deloitte, the international consulting firm, said a revenue decline of 2.6 percent was mostly the result of the Budget Control Act of 2011, which led to decreased spending by the Department of Defense and others, and the drawdown of U.S. forces in the Middle East.