Northrop Grumman Space Business Posts Small Increase
Revenues in Northrop Grumman Corp.’s Space Technology unit improved 4 percent to $769 million in the 2007 second quarter, the company announced July 24. Operating profit grew from $60 million to $69 million over the same period.
Northrop Grumman credited the gains to higher sales volumes in restricted programs, NASA’s James Webb Space Telescope and space radar programs. These gains were offset by lower volume in the Advanced Extremely High Frequency and the National Polar-orbiting Operational Environmental Satellite System programs.
Overall, Northrop posted a second quarter profit of $460 million on revenues of $7.9 billion. In the same period in 2006, the company earned $7.9 billion on revenues of $7.6 billion.