Northrop Grumman [NOC] on Jan. 30 posted lower earnings and sales in its fourth quarter, although an aggressive stock repurchase program helped maintain healthy per share earnings. Net income fell 10 percent to $478 million, $2.12 earnings per share (EPS), from $533 million ($2.14 EPS) a year, still well ahead of analysts’ expectations of $1.94 EPS. A pension adjustment and the company’s stock repurchase program reduced the outstanding share count by 10 percent, helping to prop up the EPS results, which…
Income, Sales Drop At Northrop Grumman In Fourth Quarter
Defense Daily Staff
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