Thursday, Northrop Grumman Corp. (NOC) said its fourth-quarter net earnings were $413 million or $1.31 per share compared with a loss of $2.5 billion or $7.75 per share in the prior year period.
Adjusted earnings from continuing operations for the quarter declined to $375 million from $499 million in the year-ago period. Adjusted earnings per share from continuing operations for the quarter were $1.19, down from $1.50 in the previous year period. On average, 19 analysts polled by Thomson Reuters expected the company to report earnings of $1.26 per share for the quarter.
Sales for the quarter rose to $8.92 billion from $8.77 billion in the comparable period. Thirteen analysts estimate revenues of $9.00 billion for the quarter.
For fiscal 2010, earnings per share from continuing operations are projected to be in range of $5.70 - $5.95 and sales for the year are expected to be in range of $34.00 billion - $34.60 billion. Twenty one analysts estimate earnings of $5.58 per share and eighteen analysts estimate revenues of $35.87 billion for the year.
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