Profits up at defence firm Northrop

first_imgWednesday 9 February 2011 8:26 pm Profits up at defence firm Northrop whatsapp DEFENCE contractor Northrop Grumman posted a higher-than-expected quarterly profit aided by lower pension costs and better performance at most of its divisions.The supplier of spy planes and communications and intelligence work is moving to improve operations and lower costs as the US Defence Department, its main customer, looks to reduce overheads and make weapons programmes more affordable.Northrop Grumman plans to sell-off or spin-off its shipmaking business, a division that has been a drag on results in the past.“Fourth-quarter results were stronger than anticipated with robust profit margins,” RBC Capital Markets analyst Robert Stallard said in a note to clients.Segment income rose 11 per cent in aerospace, 66 per cent in information systems and 23 per cent in technical services. Pension expenses came to $1m (£621,231) in the current quarter, down from $87m a year earlier.Fourth-quarter net earnings of $376m, or $1.27 a share compared with $413m, or $1.31 a share, a year earlier. Earnings from continuing operations also were $1.27 a share against $1.19 a share a year earlier. Show Comments ▼ Tags: NULLcenter_img whatsapp KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoamautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Share More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comlast_img

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