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Income, Sales Drop At Northrop Grumman In Fourth Quarter

Defense Daily Staff

Friday, January 31st, 2014

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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…

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