Northrop Grumman to Provide Revised Financial Guidance

Friday, November 09, 2001
Northrop Grumman Corporation announced that it intends to provide revised sales and economic earnings guidance for 2001, 2002 and 2003 when it meets with institutional investors beginning today as part of its pending equity offerings. The company said that the revised financial guidance assumes the acquisition of Newport News Shipbuilding, the issuance of common stock and equity security units of approximately $1.2 billion, and reflects the previously announced work stoppage on the Project America cruise ship program.

The company plans to present 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, reflecting the expected cash impact of the work stoppage on Project America and the acquisition of Newport News Shipbuilding.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Newport News Shipbuilding Hosts Sen. Inhofe

Huntington Ingalls Industries (HII) today hosted Sen. James M. Inhofe, R-Okla., for a tour of the company's Newport News Shipbuilding division.   The senator,

Hempel CEO Jullien Plans Retirement

Pierre-Yves Jullien, CEO of Hempel A/S since 2005, has decided to retire after nearly 40 years in the Group. He will step down from his role as CEO on March 31, 2016 at the latest.

DNV GL Launches Singapore Service Center

DNV GL's new Singapore Service Center (SSC) will streamline customer support and enhance customers’ experiences by giving them a single point of contact for all operational issues.

Finance

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

Tanker Lifts One Million Barrels of Crude at Hariga

A tanker left Libya's eastern oil port of Hariga after lifting one million barrels of crude, an oil official said on Thursday. No new tanker was expected in the next few days,

Georgia Port Increases Container Traffic

The Georgia Ports Authority increased containerized cargo in March by 27.8 percent compared to the same month a year ago, for an additional 72,499 20-foot equivalent container units (TEUs).

 
 
Maritime Security Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.9240 sec (1 req/sec)