Barco Simulation, a subsidiary of Belgium based Barco International, began operations in Xenia, Ohio in 1999. During the third quarter of 2008, Barco International sales grew to $231.8 million, an increase of 4%, while gross profit declined by 11% to $76 million from 85.3 million the previous year. Net income was $42.1 million, up 385% from $11 million in 3Q07. Net income for 3Q08 includes the proceeds from the sale of BarcoVision to Itema Group and of the Maritime Safety & Surveillance activity to Thales. Net earnings per share were $3.5 (euro 2.73) compared to $.9 (euro 0.7) for the same period the previous year.
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