Northrop Grumman on Jan. 26 reported fourth-quarter net income of $525 million.
The Falls Church, Va.,-based company said it had net income of $2.96 per share. Earnings, adjusted for non-recurring gains, came to $2.66 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The defense contractor posted revenue of $6.4 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.91 billion.
For the year, the company reported profit of $2.2 billion, or $12.19 per share. Revenue was reported as $24.51 billion.
Northrop Grumman expects full-year earnings to be $11.30 to $11.60 per share.
Northrop Grumman shares have fallen roughly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 3 percent. The stock has increased 27 percent in the last 12 months. AP