Finmeccanica net up with gains

MILAN (Reuters) - Italian aerospace and defense company Finmeccanica SpA (SIFI.MI: Quote, Profile, Research, Stock Buzz) posted a first-quarter net profit of 126 million euros ($194.7 million), up 563 percent from the prior year after one-time gains.

The net profit includes a capital gain from the sale of shares in chip maker STMicroelectronics NV (STM.PA: Quote, Profile, Research, Stock Buzz). Excluding the gain, net profit was 72 million euros, the company said in a statement on Tuesday.

Earnings before interest, tax and amortization (EBITA) were up 13 percent at 133 million euros.

Finmeccanica confirmed its 2008 outlook, with organic revenue growth between 6 percent and 11 percent and adjusted EBITA increasing between 12 percent and 19 percent.

(Reporting by Ian Simpson)