US technology companies reported strong earnings and sales growth during the third quarter (Q3) of 2005 as a result of mergers and acquisitions (M&A) activity and continued US Department of Defense (DoD) investment in areas such as intelligence and surveillance. The impressive performance of hi-tech operators such as New York-based defence technology group L-3 Communications, Tele-dyne Technologies and Axsys Technologies comes against a backdrop of significant fiscal pressures on the DoD.
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