Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

Northrop Grumman Still Seeking Shipbuilding Solution

Northrop Grumman (NYSE: NOC) released the following financial statement:

The firm “will announce its fourth quarter 2010 and year-end financial results on Wednesday, Feb. 9, 2011.  The company’s conference call will be held at 10:30 a.m. ET the same day.

“The conference call will be webcast live on Northrop Grumman’s website at http://www.northropgrumman.com. Northrop Grumman participants will include Wes Bush, chief executive officer and president, and Jim Palmer, chief financial officer. Replays of the call will be available on the website for a limited period of time. Presentations will be supplemented by a series of slides appearing on the company website.  Listeners are encouraged to view these materials in conjunction with the call.  The 2010 fourth quarter and year-end earnings release will be posted on the home page of the website.

“The company also announced that it continues to explore strategic alternatives for a potential separation of its Shipbuilding business.  While any final decision remains subject to board approval, the company currently believes a spin-off of Huntington Ingalls Industries, Inc. (HII), will be the most likely method for separating Shipbuilding from Northrop Grumman.

“In conjunction with a potential spin-off, HII has begun discussions with lenders and ratings agencies related to arranging financing.  HII expects it will also continue to file periodic amendments to its Form 10 filing with the U.S. Securities and Exchange Commission.”

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Report

Related Articles