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Earnings Tumble At Northrop Grumman But Still Beat Expectations

Defense Daily Staff Defense Daily Staff
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Owing to a tough comparison versus a year ago when it benefited from a $298 million tax benefit, Northrop Grumman [NOC] yesterday posted a steep decline in net income in the second quarter amid a drop in sales as well. Northrop Grumman, like most defense companies, is struggling with top line growth given continued delays associated with a budget resolution that kept pressure on federal spending late last year and early in 2011, uncertainty swirling around ongoing debt ceiling discussions,…

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