Close this Advertisement




Share

Northrop 2nd quarter down as IS sales slip

Information systems sales to the government slipped slightly, while electronic systems sales rose 1 percent.

Northrop Grumman Corp. today reported a mixed second quarter of fiscal 2010 as electronic and information systems sales slipped compared to 2009.

Northrop sales of information systems slipped 1.3 percent to $2.123 billion in the quarter compared with $2.151 billion in 2009, according to the corporation’s report. During the quarter, sales to civilian agencies and intelligence programs also fell slightly compared to 2009. But those decreases were offset by increased sales to defense programs, the report stated.

For the first six months of 2010, Northrop reports information systems sales total $4.187 billion, 1.3 percent lower than the first six months of 2009.

However, sales of its electronic systems increased 0.9 percent to $1.984 billion compared with 2009. The corporation attributed the higher sales to targeting systems programs. Sales for the first half of the year have reached $3.866 billion, for a 3 percent increase compared with the first half of 2009.

Overall, the company's second quarter earnings from continuing operations increased to $711 million from $368 million in the corresponding quarter of 2009, the report states.

Wes Bush, Northrop president and chief executive officer, called the results solid. "Overall, we’re pleased with our second quarter results,” he said in a statement.

“Some of the quarter's financial results came from executives' review of company operations, as they sought ways to make it more streamlined," he said. “Our focus on performance improvement is generating positive results across all our businesses.'

Looking ahead, Bush said Northrop Grumman doesn’t see a letup in the challenges of today’s tough economy.

Northrop Grumman, of Los Angeles, ranks No. 2 on the Washington Technology 2010 Top 100 list of the largest federal government contractors.

About the Author

Matthew Weigelt is a former FCW senior writer who covered acquisition and procurement.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above
SEARCH

Trending

Webcasts

  • How Do You Support the Project Lifecycle?

    How do best-in-class project-based companies create and actively mature successful organizations? They find the right mix of people, processes and tools that enable them to effectively manage the project lifecycle. REGISTER for this webinar to hear how properly managing the cycle of capture, bid, accounting, execution, IPM and analysis will allow you to better manage your programs to stay on scope, schedule and budget. Learn More!

  • Surviving Lowest Price Technically Acceptable IT Projects: Maximize your Returns and Customer Satisfaction Ratings

    Register for this FREE exclusive roundtable webcast to hear from Nick Wakeman, Editor of Washington Technology, Shamun Mahmud, Cloud Security Architect, DLT Solutions and Paul McCloskey, Federal Alliances Leader, SolarWinds, and they discuss the different approaches on how you can deliver low cost, technically excellent, better value solutions to meet the fiscal and technology needs of today’s government, while still maximizing your returns on your LPTA IT projects. Learn More!