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 freelance journalist who writes about 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

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • POWER TRAINING: How to engage your customers

    Don't miss our July 12 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.