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Business/Financial

Northrop Grumman Reports Lower Sales, Income In Fourth Quarter; Still Beats Estimates

By Cal Biesecker

Thursday, January 28th, 2016

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Northrop Grumman Reports Lower Sales, Income In Fourth Quarter; Still Beats Estimates

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

Northrop Grumman [NOC] on Thursday posted lower earnings and sales in its fourth quarter as top lines at all of its operating segments declined but the company’s earnings still beat analysts’ expectations, largely due to the extension of a federal tax credit and also on better than expected operating performance.Net income slid 9 percent to $459 million, $2.49 earnings per share (EPS), versus $506 million ($2.48 EPS) a year ago, well above consensus estimates of $2.00. The extension of the…

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