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Northrop Grumman’s Earnings Down, Sales Up In Third Quarter

Cal Biesecker By
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Northrop Grumman’s Earnings Down, Sales Up In Third Quarter
Northrop Grumman Chair, President and CEO Kathy Warden. Photo: Northrop Grumman

Northrop Grumman [NOC] on Thursday reported lower net income due to a combination of operating and non-operating factors while sales edged higher largely on the strength of its booming space business. Net income fell 14 percent to $915 million, $5.89 earnings per share (EPS), from nearly $1.1 billion ($6.63 EPS) a year ago, trailing consensus estimates by 22 cents per share. Sales grew 3 percent to $9 billion from $8.7 billion a year ago. The earnings decline stemmed from lower…

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