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Byline: NANCY GONDO
Aerospace and defense stocks tend to do well during wars or prospects of war. This time around, although the Iraq War ended in the spring of 2003, defense-related names are still making the IBD 100 list.
The defense index was the leading sector in Friday's edition (page B4), with an 8.7% gain this year. Industry group action showed a similar uptrend. The Electronics-Military Systems group ranked No. 19, up from No. 67 three months ago. Aerospace/Defense Equipment stocks rose to No. 32 from No. 82.
Flir Systems, a member of the Military Systems group, held steady at No. 5 this week. The maker of thermal imaging and infrared camera systems reached a new closing high July 30. It stepped up sales and profit growth the past three quarters. The U.S. government accounted for 26% of sales last year.
Last month, Flir got a $7.4 million order for infrared imaging cameras from Northrop Grumman targeting pods to be used on U.S. Air Force aircraft. In June, the ...