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Business/Financial

Northrop Grumman Posts Higher Earnings, Sales, Despite Mixed Operating Results

DDN

Wednesday, July 30th, 2008

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By Calvin Biesecker Northrop Grumman [NOC] yesterday reported solid increases in net income and sales although the higher earnings were driven by lower corporate and pension expenses as three of the company' operating segments saw their income decline despite top line growth in all. The company's shipbuilding segment posted the largest operating decline driven by previously disclosed schedule impacts on several programs due to problems found late in construction of the Navy's LHD-8 amphibious assault ship. Poor management on that…

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