Northrop Grumman (NYSE: NOC) has announced financial results for the first quarter of its 2015 fiscal year ended March 31, 2015.
The aerospace and defense contractor posted a 2-percent jump in revenue from the prior year period to $5.96 billion and three of the company’s four business segments also reported sales increases for the quarter.
Revenue in the aerospace systems segment rose 3 percent to $2.5 billion, a trend the company attributed to higher volume for space and unmanned programs such as the NATO Alliance Ground Surveillance program.
Northrop also reported a 2.3-percent revenue hike to $1.68 billion for the electronic systems segment, which the company said was due to higher sales for space sensors, marine systems and tactical sensors programs.
The technical services segment’s revenue climbed 10 percent due to higher sales for international programs and intercompany deals, Northrop said.
Revenue for the information systems segment was flat compared to first quarter 2014 figures.
