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Sales, Earnings Off At Northrop Grumman But Operating Results Solid

Defense Daily Staff Defense Daily Staff
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Northrop Grumman [NOC] yesterday reported lower sales and earnings in the second quarter due to constrained federal spending and higher pension expenses while the operating income at its business segments remained flat. The company also managed to boost its per share earnings by 4 percent despite lower net income due to share repurchases in the quarter and raised its earnings guidance for the year. Net income slid nearly 8 percent to $480 million, $1.88 earnings per share (EPS), from $520…

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