:

Business/Financial

Northrop Grumman Opens Year With Strong Earnings

By Cal Biesecker

Wednesday, April 23rd, 2014

SHARE:

Northrop Grumman Opens Year With Strong Earnings

Northrop Grumman Chairman and CEO Wes Bush. Photo: Northrop Grumman

Benefiting from a favorable tax settlement, pension income, improved operating performance and the repurchase of its stock, Northrop Grumman [NOC] on Wednesday reported a strong financial start to 2014 with a hefty rise in earnings despite a fall in sales. Net income increased 18 percent to $579 million, $2.63 earnings per share (EPS), versus $489 million ($2.03 EPS) a year ago, walloping consensus estimates of $2.15 EPS. The results included a $51 million (23 cents EPS) benefit from a partial…

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]