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Ronald D Sugar News

21 Oct 2009

Northrop Grumman Q3 2009 Results

Northrop Grumman Corporation (NYSE: NOC) reported that third quarter 2009 earnings from continuing operations totaled $487 million, or $1.52 per diluted share, compared with $509 million, or $1.50 per diluted share, in the third quarter of 2008. Third quarter 2009 net pension adjustment (FAS/CAS) reduced earnings from continuing operations by $47 million, or $0.15 per diluted share, compared with an increase to earnings from continuing operations of $42 million, or $0.13 per diluted share, in the third quarter of 2008. Third quarter 2009 earnings included a net tax benefit of $75 million, or $0.23 per share, primarily for final settlement of the Internal Revenue Service's (IRS) examination of the company's 2001, 2002 and 2003 tax returns.

24 Jul 2009

Northrop Grumman Q3 2009 Results

Northrop Grumman Corporation (NYSE: NOC) reported that second quarter 2009 earnings from continuing operations totaled $394 million, or $1.21 per diluted share, compared with $483 million, or $1.40 per diluted share, in the second quarter of 2008. Second quarter 2009 net pension adjustment (FAS/CAS) reduced earnings from continuing operations by $49 million, or $0.15 per diluted share, compared with an increase to earnings from continuing operations of $45 million, or $0.13 per diluted share, in the second quarter of 2008. Second quarter 2009 earnings included a net $64 million pre-tax gain, or $0.13 per diluted share, for legal matters…

24 Apr 2009

Northrop Grumman 1Q 2009 Results

Northrop Grumman Corporation (NYSE: NOC) reported that first quarter 2009 earnings from continuing operations increased 48 percent to $389 million, or $1.17 per diluted share, compared with $263 million, or $0.76 per diluted share, in the first quarter of 2008. First quarter 2008 earnings were reduced by a pre-tax charge of $326 million, or $0.61 per diluted share, in the company's Shipbuilding sector. Sales for the 2009 first quarter increased 8 percent to $8.3 billion from $7.7 billion in the 2008 first quarter. First quarter 2008 sales were reduced by $134 million due to the $326 million charge in the Shipbuilding sector. In the 2009 first quarter…

08 Jan 2009

Northrop Grumman Organization Changes

Northrop Grumman Corporation (NYSE: NOC) announced several structural actions to strengthen alignment with its customers, improve the company's program performance and growth potential, and enhance its cost competitiveness. These actions, effective immediately, include streamlining its organizational structure, reducing the number of sectors from seven to five. The five sectors will be Aerospace Systems; Electronic Systems; Information Systems; Shipbuilding; and Technical Services. "These actions are critical steps in shaping our future," said Ronald D. Sugar, Northrop Grumman chairman and chief executive officer. "Key to our success is the early anticipation of changes in our markets…

19 Dec 2008

Northrop - Yslas Corp VP; Coyne Secretary

Stephen D. Yslas

Northrop Grumman Corporation’s (NYSE: NOC) board of directors has elected Stephen D. Yslas, 61, corporate vice president and general counsel effective Jan. 1, 2009. Yslas succeeds W. Burks Terry who is retiring Dec. 31, 2008. In his new role, Yslas will be responsible for oversight of all of the company's legal matters. He will report to Ronald D. Sugar, the company's chairman and chief executive officer, and become a member of the company's Corporate Policy Council. The board also elected Joseph F.

15 Jan 2008

Northrop Grumman Announces Leadership and Organizational Changes

Northrop Grumman Corporation announced a strategic realignment of several of its operating sectors to enhance the company's support to its customers, better utilize its capabilities and resources and drive operating improvements. The company stated that its two shipbuilding sectors, Newport News and Ship Systems, will be realigned into a single sector called Northrop Grumman Shipbuilding, effective Jan. 28, 2008. In addition, the company is realigning the reporting of its missiles business from its Mission Systems sector to its Space Technology sector, effective July 1, 2008. With this new reporting structure, Mission Systems will focus on the rapidly growing C4ISR business, and the missiles business will be an integrated element of the company's Aerospace business growth strategy.

17 Sep 2003

CEO and President of Northrop Grumman to Assume Duties as Chairman

Northrop Grumman Corporation announced that its board of directors has elected Ronald D. Grumman's next chairman of the board. Effective Oct. officer and president. chairman since 1990, will retire on that date. 2003 as president and chief executive officer. boards," said Sugar. Grumman in September 2001 and its chief executive officer in April 2003. has served as a member of the Northrop Grumman board of directors since 2001. Industries, a company acquired by Northrop Grumman in April 2001. Information Systems and a member of the chief executive office of TRW Inc. global automotive electronics business. scientific, and commercial space and electronics programs. Aircraft Co., Argosystems Inc. and The Aerospace Corporation. (1969) and doctoral degrees (1971) in the same field.

29 Oct 2003

Northrop Grumman Reports 2003 Third Quarter Results

Northrop Grumman Corporation (NYSE:NOC) reported income from continuing operations of $224 million, or $1.21 per share for the 2003 third quarter, compared with $141 million, or $1.17 per share, for the same period of 2002. Third quarter 2003 earnings per share are based on weighted average diluted shares outstanding of 184.5 million versus 115.2 million for the third quarter of 2002. Sales for the 2003 third quarter increased to $6.6 billion from $4.2 billion for the same period of 2002. Ronald D. Sugar, Northrop Grumman's chairman, chief executive officer and president said, "Northrop Grumman's third quarter results were excellent from every perspective.

30 Nov 2001

Northrop Grumman Completes Tender Offer for Newport News Shipbuilding

Northrop Grumman Corporation announced today the completion of its tender offer for all of the outstanding shares of Newport News Shipbuilding Inc., creating the world's largest naval shipbuilder. E.S.T. on November 29, 2001. exchange. The exchange agent for the offer has advised Northrop Grumman that a total of approximately 26,469,213 shares were tendered in the offer, including approximately 14,503,155 delivered through notice of guaranteed delivery. common stock. "Northrop Grumman is now a world-class, fully capable shipbuilding company with expertise in every class of nuclear and non-nuclear vessel," said Kent Kresa, Northrop Grumman's chairman and chief executive officer.

17 Apr 2002

Northrop Grumman Reports 1Q Results

Northrop Grumman Corporation reported first quarter 2002 net income of $149 million, or $1.27 per share, compared with net income of $132 million, or $1.81 per share, for the same period of 2001, adjusted for SFAS No. 142 - Goodwill and Other Intangible Assets. The comparable per share decline reflects a substantial decrease in pension income and increases in interest expense and in the number of shares outstanding. On an economic earnings basis, the company reported increased earnings of $170 million, or $1.45 per share, compared with $101 million, or $1.39 per share, for the same period of 2001. 2002 earnings per share are based on average diluted shares outstanding of 112.8 million versus 72.8 million for the first quarter of 2001.

16 Jan 2001

Northrop Grumman to Acquire Litton Industries for $5.1B

In a move which effectively creates a defense and marine naval construction giant, Northrop Grumman Corp. and Litton Industries jointly announced late last month that they have signed a definitive agreement under which Northrop Grumman will acquire for cash all of the outstanding shares of Litton for $80 per common share and $35 per Series B Preferred share. The transaction is valued at approximately $5.1 billion, which includes the assumption of Litton's $1.3 billion in net debt. Litton is a leading supplier of advanced electronics and information systems to the U.S. government and international customers and is the premier designer and builder of non-nuclear surface combatant ships for U.S. and foreign navies.

22 Dec 2000

Northrop Grumman to Acquire Litton Industries for $80 Per Share Cash

Northrop Grumman Corp. and Litton Industries have jointly announced that they have signed a definitive agreement under which Northrop Grumman will acquire for cash all of the outstanding shares of Litton for $80 per common share and $35 per Series B Preferred share. The transaction is valued at approximately $5.1 billion, which includes the assumption of Litton's $1.3 billion in net debt. Northrop Grumman's and Litton's boards of directors have unanimously approved the transaction. Following the close of the transaction, it is Northrop Grumman's intention to raise additional capital through a stock offering. earnings per share in 2001. Northrop Grumman said it expects the acquisition to be double-digit accretive to both economic and GAAP earnings per share in 2002 and beyond.

04 Apr 2001

Dr. Ronald D. Sugar Elected To Northrop Grumman's Board Of Directors

Northrop Grumman Corporation has appointed Dr. Ronald D. Sugar to its board of directors, increasing the board to 14 members. Dr. Sugar, formerly president and COO of Litton Industries Inc., is corporate vice president, president and CEO of Northrop Grumman's Litton Sector. He joined the board effective with the completion of the company's tender offer for Litton Industries Inc. Prior to joining Litton, Dr. Sugar was president and COO of TRW Aerospace and Information Systems, and a member of the three-man Chief Executive Office of TRW Inc., a $17 billion global automotive, aerospace and information systems company. In his nearly 20 years with TRW, Dr.

16 Sep 2004

Petters to Lead Northrop Grumman's Newport News Sector

Northrop Grumman Corporation has elected C. Michael Petters as corporate vice president and president of the company's Newport News sector, succeeding Thomas C. retirement. Petters will assume his new position on Nov. 1, 2004. Ronald D. Sugar, Northrop Grumman's chairman, chief executive officer and president. Petters, 44, currently serves as the sector's vice president of human resources, administration and trades, and most recently was instrumental in the successful collective bargaining agreement between the company and the United Steelworkers of America.

19 Jul 2007

Northrop Grumman President Receives Leadership Excellence Award

Leadership Excellence Award by the Stockdale Center for Ethical Leadership at the United States Naval Academy and the Harvard Business Review. employee development, and deliver consistent results at U.S.-based companies. Ronald D. Sugar, chairman and chief executive officer for Northrop Grumman. discussion, How Leaders Make a Difference. decision making.

09 Oct 2006

George H. W. Bush Aircraft Carrier Christened

christened the nation's 10th and final Nimitz-class aircraft carrier, George H. W. Bush (CVN 77). President of the United States, George H. history to participate in the christening of his namesake ship. to sea," Bush said. the commander in chief to be on board. daughter, Doro Bush Koch. Mrs. sparkling wine across the ship's bow during the ceremony. President George W. during the ceremony as a special guest speaker. George H.W. Virginia Senators John Warner and George Allen; Virginia Gov. Kaine; Adm. Michael Mullen, Chief of Naval Operations; Ronald D. and Mike Petters, president of Northrop Grumman Newport News. aircraft carriers. heat, freezing cold and in the rain," he said. "It is dangerous work. It is difficult and demanding work. And it is noble work.

25 Apr 2006

Northrop Grumman Reports 1Q Results

share, for the same period of 2005. share, from the sale of TRW Automotive common stock. to lower sales in the company's Ships business. from Information & Services, Aerospace and Electronics. At Ships, we continue to progress toward pre-Katrina production levels," said Ronald D. Sugar, Northrop Grumman chairman, chief executive officer and president. The company's first quarter 2006 segment operating margin increased to $644 million from $638 million in first quarter of 2005. First quarter 2006 segment operating margin reflects higher operating margin in Information & Services, Electronics and Aerospace, partially offset by lower operating margin in Ships.

27 Sep 2001

Ronald D. Sugar Elected President and Chief Operating Officer of Northrop Grumman

Northrop Grumman Corporation has named Ronald D. Sugar, president and chief operating officer chairman and chief executive officer. Dr. Sugar was elected to Northrop Grumman's board of directors last April. Kent Kresa, chairman and CEO, stated, "With our recent acquisition of Litton Industries, Northrop Grumman is now a $15 billion top-tier global enterprise with 80,000 employees. Ron's appointment provides our company with additional management depth, experience and expertise at an important time in our company's history. For the past 11 years, Kresa has held the position of chairman, president and chief executive officer, leading Northrop Grumman in its transition from primarily an aircraft company to a leading defense electronics…

17 Aug 2005

Winter Nominated as Secretary of the Navy

Northrop Grumman Corporation confirmed that President George W. nominate Donald C. Winter, 57, to become Secretary of the Navy. Winter currently serves as corporate vice president and president of Northrop Grumman's Mission Systems sector, a position he has held since January 2000. current position. as an executive advisor to the CEO's office. Mission Systems, will serve as acting sector president. Systems since July 2004. distinguished career in the U.S. Navy. 2004 revenues of $5 billion and employs 18,000 people. communities," Sugar said. system programs. He joined TRW Inc. Systems when Northrop Grumman acquired TRW in December 2002. pointing programs at the U.S. Defense Advanced Research Projects Agency. was awarded the Secretary of Defense Medal for Meritorious Civilian Service.

23 Jul 2003

Northrop Grumman Christens San Antonio

Saturday, July 19, 2003, at the company's Avondale operations near New Orleans. Hundreds of guests and employees attended the traditional dockside ceremony. transport dock ships being built for the U.S. Navy by Northrop Grumman. Gen. Michael W. Hagee, commandant of the U.S. principal address at the ceremony. San Antonio. The ship's sponsor was U.S. from Texas who christened the vessel. Hutchison. Currently, the ship is more than 75 percent complete. and start powering up the ship's systems. commissioned for U.S. Marines. mission. major components and large assemblies for the ship. on San Antonio," said Dr. Ronald D. president of Northrop Grumman Corporation. and LST 1179 classes of amphibious ships. Intergraph Corporation and vendors in 36 states.

28 Jul 2003

Northrop Grumman Reports 2Q Results

Northrop Grumman Corporation reported income from continuing operations of $207 million, or $1.09 per share, compared with $181 million, or $1.52 per share, for the same period of 2002. second quarter of 2002. $6.6 billion from $4.2 billion for the same period of 2002. $22 million of pension income for the 2002 second quarter. 2002. increased operating margins from our segments, offset by pension expense. Technology segments. $25.9 billion at June 30, 2003, from $21.7 billion reported a year earlier. Information Technology and Integrated Systems segments. program. Ronald D. new Northrop Grumman. contributed significantly to today's results. cash flow, and to increase 2003 earnings per share guidance. agenda. warfare future envisioned by our customers," Sugar added.

16 Jul 2003

Northrop Grumman to Christen Amphibious Ship

ships being built for the U.S. Navy, during a 10 a.m. Saturday, July 19, 2003. Operations, alongside the Mississippi River near New Orleans, La. Antonio, Texas. Hutchison, U.S. senator, State of Texas. Mrs. Trisha Wilson and Mrs. Peggy Carr, both of Dallas, and Mrs. breaks a bottle of Texas sparkling wine across the new ship's bow. Gen. Michael W. Hagee, Commandant of the U.S. will deliver the principal christening address. Landrieu, U.S. Jefferson, U.S. Hansford T. Johnson, acting secretary of the Navy; Rear Adm. Charles S. Hamilton II, Program Executive Officer, Ships; Capt. John R. USN, Supervisor of Shipbuilding, Conversion & Repair, New Orleans; Dr. Ronald D. Sugar, CEO and president of Northrop Grumman Corporation; Dr. Philip A. Grumman Ship Systems; and George R.

31 Jan 2003

Northrop Grumman to Present at Tech Conference

Northrop Grumman Corporation will present at the Thomas Weisel Partners' Tech 2003 Conference in San Francisco on February 5. The presentation by Ronald D. Sugar, Northrop Grumman's president and chief operating officer, will be webcast at www.northropgrumman.com beginning at 9:10 a.m. PST.