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Tax Benefit, Strong Operating Performance Lift Northrop’s Earnings

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By Calvin Biesecker Northrop Grumman [NOC] reported strong second quarter earnings due to a previously disclosed tax benefit combined with strong performance across its operating segments. Net income soared 80 percent to $711 million, $2.34 earnings per share (EPS), aided by a $296 million (73 cents EPS) gain from a benefit that more than offset a $113 million (24 cents EPS) charge associated with the consolidation of its Gulf Coast shipbuilding operations in Mississippi. Analysts had expected the company to…

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