Northrop’s Revenue Climbs Despite Lower Space Sales
reported a sales increase of 5 percent for the third quarter of 2009 compared to the previous year, despite reduced revenue from its space and missile defense programs, according to an Oct. 21 company filing with the U.S. Securities and Exchange Commission.
The Redondo Beach, Calif.-based division brought in $2.53 billion in revenue for the quarter, bolstered by higher sales of its unmanned aerial platforms, including the Broad Area Maritime Surveillance Unmanned Aerial System, Global Hawk, and Navy Unmanned Combat Air System, according the filing. Volume was lower on its National Polar-orbiting Operational Environmental Satellite System and Airborne Laser programs. The termination earlier this year of the Multiple Kill Vehicle and Transformational Satellite communications system also resulted in reduced revenue. A profit of $265 million for the quarter was up 14 percent compared to the same time last year.
Northrop Grumman Electronic Systems of Baltimore, Md., reported a 2 percent increase in revenue to $1.84 billion for the quarter. The company reported higher volume on the Air Force’s Space Based Infrared System, for which it provides the payloads.
The parent company, Northrop Grumman Corp. of Los Angeles, reported sales of $8.73 billion for the quarter, up four percent from the third quarter of 2008. The company’s $655 million in profit for the third quarter was down 15 percent compared to the same time last year.