Northrop Grumman Confirms Financial Guidance

Northrop Grumman Corporation said today that it will confirm previously announced financial guidance in a meeting with investors on December 20. The financial guidance reflects the acquisition of Newport News Shipbuilding, and the issuance of common stock and equity security units of approximately $1.45 billion. The company will confirm the following guidance: -- Sales in 2001 of approximately $13 billion -- Sales in 2002 of approximately $18 billion -- Sales in 2003 of approximately $20 billion -- Economic earnings per share of $5.80 to $5.95 in 2001, $6.60 to $7.10 in 2002, with double-digit growth in 2003. -- Cash generated from operations in 2002 is expected to be in the range of $800 million.