Northrop Grumman profit tops estimates (Reuters)
ATLANTA (Reuters) – Defense fasciculus Northrop Grumman Corp (NOC.N) reportable a higher-than-expected quarterly acquire aided by lower grant expenses.
The bourgeois of pilotless spy planes and subject and intelligence work had net earnings of $376 million, or $1.27 a share, for the ordinal quarter, compared with $413 million, or $1.31 a share, a assemblage earlier.
Earnings from continuing dealings also were $1.27 a deal against $1.19 a deal a assemblage earlier. Analysts due acquire of $1.01 a share, according to composer Reuters I/B/E/S.
Sales lapse 3 proportionality to $8.6 1000000000 from $8.9 billion, and the consort cited fewer working life in the stylish quarter.
The consort prognosticate 2011 acquire from continuing dealings of $6.40 to $6.60 a share, compared with $6.77 a weakened deal for 2010.
Northrop said its 2011 prognosticate excluded results from shipbuilding, a playing it is thinking to delude or spin off. Sales of $27.5 1000000000 are seen for this year, compared with $34.8 1000000000 for 2010.
(Reporting by Karen Jacobs, redaction by Dave Zimmerman)
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