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Income, Sales Fall At Northrop Grumman But Operating Results Outperform

Defense Daily Staff Defense Daily Staff
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Feeling the pressure of a constrained environment for defense spending, Northrop Grumman [NOC] yesterday posted top and bottom line declines in its first quarter yet still managed to beat analysts’ earnings estimates by producing strong segment operating  margins. Operating results were led by the Electronic Systems segment, which boosted income by 28 percent to $304 million despite a 5 percent drop in sales to $1.7 billion. Margins in the segment rose 4.5 percent to 17.6 percent, which the company attributed…

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