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  • Thursday, April 25, 2024

Northrop 2Q Net Earnings Up 2%, Aerospace Sales Jump 9%

northrop Grumman_BLUENorthrop Grumman (NYSE: NOC) has announced financial results for its fiscal year 2013 second quarter, reporting a 2 percent increase in net earnings from the prior year period.

The Falls Church, Va.-based aerospace and defense contractor also saw year-over-year sales increases in its aerospace systems and electronic systems sector for the quarter.

Aerospace systems sales rose 9 percent from the fiscal 2012 second quarter, while sales in the electronic systems sector increased 2 percent.

Northrop attributes the increased aerospace systems sales to deliveries of the Lockheed Martin-made (NYSE: LMT) F-35 aircraft, for which Northrop makes the center fuselage and fire control radar, and unmanned programs such as the NATO AGS and Fire Scout unmanned helicopter.

International, tactical sensor and space programs helped increase sales in the electronic systems sector, the company said.

 

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