Northrop Grumman reports increased earnings

Manufacturing News, Source : TheManufacturer.com
Published : 18 Jul 2002 17:06

Northrop Grumman reported a 37% increase to $188 million in economic earnings for the second quarter, up from $137 million from 2001.

The company also reported a total of $4.4 billion in sales during the second quarter, marking an impressive 20% increase from last year’s $3.7 billion.

“We are pleased to report another solid quarter, which included growth in all of our core defense businesses,” stated Kent Kresa, chairman and CEO for Northrop Grumman. “The integration of Litton and Newport News are essentially complete, and our combined talents and resources are already making substantial contributions. With the continued strong operating performance and outstanding contract wins, we remain very confident in our growth and earning prospects.”

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