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Business/Financial

Northrop Grumman Posts Strong Third Quarter Earnings

DDN

Thursday, October 25th, 2007

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By Calvin Biesecker Northrop Grumman [NOC] joined in the defense earnings hit parade yesterday, logging a hefty increase in net income helped by higher sales, improved margins, reduced corporate expenses and a one-time gain from the reorganization of a former joint venture. Net income increased 62 percent to $489 million, $1.41 earnings per share (EPS), against $302 million (86 cents EPS) a year ago, topping Wall Street's per share estimates by 14 cents. Margins increased 280 basis points to 10.2…

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