Published on Thursday, February 04, 2010
By Daily Breeze Staff Writer
Northrop Grumman Corp. today reported net earnings of $413 million, or $1.31 per diluted share, for its 2009 fourth quarter and $1.7 billion, or $5.21 per diluted share, for the full year.
In 2008, the company reported a fourth quarter net loss of $2.5 billion, or $7.75 per diluted share, and a net loss for the year of $1.3 billion, or $3.77 per diluted share.
In December, the company completed the sale of TASC Inc., its advisory services business, for $1.65 billion in cash and a net gain of a nickel per share.
Sales increased to $8.9 billion from $8.8 billion in the year-ago fourth quarter, and edged up for the full year -- to $33.8 billion compared to $32.3 billion in 2008.
"We're pleased to report strong 2009 results that demonstrate continued improvement in operating performance," said Northrop CEO and President Wes Bush
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