Northrop Grumman will present May 6 at the 2003 Aerospace & Defense Finance Conference sponsored by Credit Suisse First Boston/Aviation Week in New York City. The presentation by Ronald D. Sugar
, Northrop Grumman chief executive
officer and president, will be webcast at http://www.northropgrumman.com beginning at
3:15 p.m. EDT.
The company will confirm the following financial guidance: 2003 earnings
from continuing operations are expected to range between $3.80 and $4.20 per
share. Segment operating margin for 2003 is expected to be in the mid-7
percent range on estimated sales of $25 billion to $26 billion. Before the
B-2 tax payment, cash from operations for 2003 is expected to be between
$1.1 billion and $1.3 billion. Capital expenditures for 2003 are expected to
be approximately $690 million, including approximately $60 million for
For 2004, sales are expected to range between $28 billion and $29 billion,
with segment operating margin expected to continue in the mid-7 percent range.
Cash from operations for 2004 is expected to total approximately $1.5 billion.
The company expects solid double-digit earnings per share growth in 2004.