Arms makers boost earnings, but revenues weakening

By Andrea Shalal-Esa WASHINGTON (Reuters) - Top weapons makers reported higher-than-expected profit and improved margins for the first quarter, even as revenue began to taper off after more than a decade of sharp growth in U.S. military spending. Boeing Co's defense division, Northrop Grumman Corp and General Dynamics Corp on Wednesday followed the lead of top Pentagon supplier Lockheed Martin Corp in reporting higher earnings and lower revenue. Operating margins remained steady or improved across the sector, ranging from 10.3 percent to 12.4 percent. ...