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Northrop Grumman Reports ‘Strong Finish’ in 2010; CEO Wes Bush Remarks

Northrop Grumman (NYSE: NOC) announced fourth-quarter 2010 earnings from continuing operations to reached $376 million, compared to $375 million in the fourth quarter of 2009.

According to the firm, “fourth-quarter 2010 results included a previously announced one-time, pretax charge of $231 million, or $0.51 per diluted share, principally related to premiums paid to redeem $682 million in debt through the company’s November 2010 tender offer.”

“Northrop Grumman had a very good fourth quarter and a strong finish to 2010, ” CEO Wes Bush said. “Operating income and cash generation exceeded our guidance for the year, demonstrating that across all our businesses, our employees are focusing on performance and building a track record of consistent execution.  Northrop Grumman is well positioned to continue creating value for our customers and shareholders.”

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