Business

July 25, 2012

Northrop Grumman second quarter results top analysts’ forecast

Defense contractor Northrop Grumman’s net income fell 8 percent in the second quarter as sales softened in most of its business segments, but its adjusted results beat Wall Street’s estimates.

The Falls Church, Va., company also raised its full-year earnings forecast July 25.

Northrop Grumman made $480 million, or $1.88 per share, compared with $520 million, or $1.81 per share, in the same period last year.

The higher per-share earnings were due to fewer outstanding shares in the current quarter.

Taking out pension-related costs, earnings from continuing operations climbed to $1.79 per share from $1.59 per share.

Wall Street, which usually excludes special items, predicted $1.61 per share, according to a FactSet poll.

Revenue for the period ended June 30 fell 4 percent to $6.27 billion from $6.56 billion. Still, it topped analysts’ $6.19 billion forecast.

Sales for the aerospace systems and electronic systems segments both dropped 3 percent, while information systems sales slid 9 percent. Sales for the technical services division edged up 1 percent in the quarter.

Northrop Grumman now expects full-year earnings of $7.05 to $7.25 per share, up from $6.70 to $6.95 per share. It maintained its revenue guidance of $24.7 billion to $25.4 billion.

Analysts foresee earnings of $6.88 per share on revenue of $25.05 billion. AP




All of this week's top headlines to your email every Friday.


 
 

 
boeing-avianco

Boeing, Avianca celebrate delivery of airline’s first 787 Dreamliner

Boeing and Avianca have celebrated the delivery of the first 787 Dreamliner for the Latin American carrier, helping the airline stay at the forefront of technology in the region. “The addition of the first Boeing 787-8 to...
 
 
boeing-boc-737

Boeing, BOC Aviation finalize order for two additional 737-800s

Boeing and BOC Aviation have finalized an order for two additional 737-800s, valued at $186 million at current list prices. The order is a part of the Singapore-based leasing company’s effort to grow its portfolio of fuel...
 
 

Northrop Grumman names chief compliance officer

Northrop Grumman has named Carl Hahn vice president, chief compliance officer, effective Jan. 15, 2015. Hahn is succeeding Judy Perry Martinez, who will be retiring, and will report to Sheila C. Cheston, corporate vice president and general counsel. “Carl brings to his role at Northrop Grumman a tremendous breadth of experience in global compliance, investigations...
 

 

GPS modernization advances as eighth Boeing GPS IIF becomes sctive

EL SEGUNDO, Calif. ñ The eighth Boeing Global Positioning System IIF satellite has completed on-orbit checkout and joined the active 31-satellite constellation, helping the U.S. Air Force continue modernizing the network that millions of people worldwide use. The Air Force and Boeing have now put four GPS-IIF satellites into service this year, adding to the...
 
 
GPS-OCX

GPS III, OCX successfully demonstrate key satellite command, control capabilities

Lockheed Martin and Raytheon successfully completed the fourth of five planned launch and early orbit exercises to demonstrate new automation capabilities, information assurance and launch readiness of the worldís most powerfu...
 
 

Aerojet Rocketdyne successfully demonstrates 3D printed rocket propulsion system for satellites

Aerojet Rocketdyne has successfully completed a hot-fire test of its MPS-120 CubeSat High-Impulse Adaptable Modular Propulsion System. The MPS-120 is the first 3D-printed hydrazine integrated propulsion system and is designed to provide propulsion for CubeSats, enabling missions not previously available to these tiny satellites. The project was funded out of the NASA Office of Chief...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>