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Northrop Grumman Reports Solid Operating Results Despite Hefty Charge

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By Calvin Biesecker As expected, Northrop Grumman [NOC] yesterday posted steep losses for the fourth quarter and all of 2008 due to a previously announced goodwill impairment charge, although the company's business sectors turned in solid operating results. The company swung to a $2.5 billion, $7.76 earnings per share (EPS), net loss in the quarter from $457 million ($1.32 EPS) earned a year ago, due to the non-cash $3.1 billion charge. For the year losses amounted to $1.3 billion ($3.83…

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