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Tax Credit, Pension Income Lift Northrop Grumman’s Earnings Amid Flat Sales In Quarter

Cal Biesecker By
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Tax Credit, Pension Income Lift Northrop Grumman’s Earnings Amid Flat Sales In Quarter
Northrop Grumman-built Global Hawk unmanned aerial vehicle (UAV). Sales of unmanned aircraft are expected to increase in 2015. Photo: Northrop Grumman.

Buoyed by the reinstatement of a federal tax credit and increased pension income, Northrop Grumman [NOC] on Thursday posted solid earnings in the fourth quarter while sales were essentially flat.Net income increased 6 percent to $506 million, $2.48 earnings per share (EPS), from $478 million ($2.12 EPS), due mainly to the $38 million (19 cents EPS) research and development tax credit and by a more than $20 increase in favorable pension adjustments. A lower share count as a result of…

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