Northrop Grumman Posts Lower 1Q Profit

Wednesday, April 26, 2006
According to the AP, Northrop Grumman Corp. posted a lower first-quarter profit as revenue declined and gains from a stock sale boosted last year's results. The company also maintained its forecast for double-digit profit growth in 2006. Income slid to $358 million, or $1.02 per share, for the January-March period, from $409 million, or $1.11 per share, the previous year when the company gained $56 million from selling its Teldix aircraft parts unit and the sale of stock in TRW Automotive Holdings Corp. Excluding last year's gains, earnings from continuing operations were $357 million, or $1.02 per share, versus $398 million, or $1.08 per share, last year. Northrop said its shipbuilding business hurt its overall revenue, which fell 4 percent to $7.18 billion from $7.45 billion a year ago. Ships revenue slid 25 percent to $1.13 billion, while information and services edged up 1 percent to $2.6 billion and aerospace grew 7 percent to $2.29 billion. The company held its estimate for full-year income of $4.25 to $4.40 per share and sales of about $31 billion. Analysts are currently predicting earnings of $4.37 per share and $31.28 billion in sales. Northop shares fell $1.23, or 1.7 percent, to $70 in morning trading on the New York Stock Exchange. Source: AP and Washington Post
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

NAVCENT Commander Recognizes Journey of Hope Sailors

Commander, U.S. Naval Forces Central Command, U.S. 5th Fleet, Combined Maritime Forces, Vice Adm. John. W. Miller, recognized the accomplishments of three special-needs sailors from the Kuwaiti ship,

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

Rolls-Royce Wins US Marine Corps Contract

Rolls-Royce has been awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, which provides

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2031 sec (5 req/sec)