Northrop Grumman Earnings Increase 17%

[norml]

Northrop Grumman Earnings Increase 17%

By THE ASSOCIATED PRESS
Published: July 28, 2006

snip

Recent unrest in the Middle East and North Korea point to the importance of the United States missile defense program, Mr. Sugar said. Northrop supplies sensors, software and other components to the program and is the prime contractor on an interceptor missile.

“That’s an area where the company is positioning itself very strongly,” Sugar said.

The company has received $233 million from its insurance companies because of damage related to Hurricane Katrina, but is still pursuing a lawsuit to recover losses it believes should have been covered under its policy.

Northrop, which also makes submarines and the B-2 stealth bomber, now expects 2006 earnings of $4.35 to $4.45 per share, up from a prior range of $4.25 to $4.40. But the company lowered its full-year sales forecast to $30.5 billion from a previous outlook of $31 billion.

Analysts anticipate profit of $4.39 per share on revenue of $31.13 billion.

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http://www.nytimes.com/2006/07/28/business/28arms.html?ref=business

[LastDemocratInSC]

1. Yes, they're a defense company but they've given their best in many ways

Jack Northrop gave our nation great airplanes during WWII and the flying wing, later, which led to the the B2 bomber. Grumman have our nation great naval aviation airplanes during WWII and the beautiful Lunar Modules (and wonderful canoes, truth be told).

Yes, these companies are military arms suppliers but they have risen to the task on may occasions in the past when our United States needed them.

[Bhaisahab]

2. Defence company? I'd rather call such orgs War companies. n/t