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Income, Sales Drop At Northrop Grumman In Fourth Quarter

Cal Biesecker By
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Income, Sales Drop At Northrop Grumman In Fourth Quarter
Northrop Grumman's Global Hawk UAV. The company hoping to sell the system to South Korea, which could open additional export opportunities for the unmanned aircraft to other allied nations, according to Northrop Grumman Chief Wes Bush. Photo: Northrop Grumman.

Northrop Grumman [NOC] on Thursday 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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