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Northrop Grumman’s Income Down, Sales Up In Second Quarter

Cal Biesecker By
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Northrop Grumman’s Income Down, Sales Up In Second Quarter
Northrop Grumman Chairman and CEO Wes Bush. Photo: Northrop Grumman

Northrop Grumman [NOC] on Wednesday posted a slight increase in sales and a slight drop in net income due to lower segment margins and pension headwinds but per share earnings rose nicely due to a lower share count stemming from the company’s repurchases of its stock.Net income dipped nearly 3 percent to $517 million, $2.85 earnings per share (EPS), from $531 million ($2.74 EPS) a year ago, topping consensus estimates by 32 cents per share. Operating margins fell a half-percent…

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