Northrop Grumman sales down in info system sector

Northrop Grumman Corp.’s Information Systems segment had an 8 percent decline in sales for the third quarter of 2011, compared to 2010, the company reported Oct. 26.

Sales declined because of a lower volume of business for defense systems and civil systems programs. However, the decline was partially offset by a higher volume for intelligence systems programs.

The defense contractor faced the decreases in defense systems area, due to reduced funding for existing programs and by completing work in various programs in the third quarter. The volume of sales in its civil systems was reduced by the sale of the San Diego County outsourcing contract, which contributed $32 million in sales during the third quarter of 2010.

Overall, Northrop Grumman had $6.6 billion in sales for the third quarter of 2011 and $7.8 billion in new business awards. The company also reported its earnings from continuing operations increased 16 percent to $520 million, from $448 million in the third quarter of 2010.

“Superior operating performance in our businesses drove higher operating income, earnings, cash and a strong book-to-bill ratio for the quarter,” said Wes Bush, chairman, CEO, and president of Northrop Grumman. “The combination of performance and share repurchases continues to produce strong earnings per share growth despite top line pressures."

Northrop Grumman repurchased 28.4 million shares for $1.6 billion during the first nine months of the year.

Northrop Grumman, of Falls Church, Va., ranks No. 2 on Washington Technology’s 2011 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 June 7 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.