Northrop Grumman revenue up 9%, profits surge in 1Q2010

Northrop Grumman revenue up 9% - financial highlights for the three months ended 31-Mar-2010:

• Sales: USD8,610 million, +9% year-on-year;
  • Aerospace Systems: USD2,696 million, +10%;
  • Electronic Systems: USD1,882 million, +5%;
• Segment operating profit: USD810 million, +7%;
  • Aerospace Systems: USD296 million, +15%;
  • Electronic Systems: USD226 million, -1%;
• Operating profit: USD765 million, +24%;
• Net profit: USD469 million, +21%. [more]

Northrop Grumman: "This was a solid quarter for Northrop Grumman. Based on this quarter's strong EPS growth, we now expect earnings per share of USD5.75 to USD6.00. Although cash flow was seasonally low, we are on track to achieve our 2010 guidance. Looking ahead, we are focused on continuing to drive performance improvements that create value," Wes Bush, CEO and President. Source: Northrop Grumman, 28-Apr-2010.