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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

US Hospital Ship Aids South Korean Sailor

A U.S. hospital ship conducted a medical evacuation, or “medevac”, May 27 to assist an ailing Republic of Korea sailor aboard a Republic of Korea Navy (ROK-N) submarine.

MAN 28/33D STC Engines for Thai Navy’s New OPV

The Royal Thai Navy has ordered a new 90-m offshore patrol vessel (OPV) to be constructed at Mahidol Adulyadej naval dockyard in Sattahip.  The newbuilding, an improved River-class design,

SCA Applauds Funding for New US Ships

The Senate Appropriations Committee this week acknowledged calls for increasing the Navy’s ship count, funding the construction of 10 new ships, as well as providing the U.

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0796 sec (13 req/sec)