spacetoday.net: TRW acquisition boosts Northrop profits

TRW acquisition boosts Northrop profits

Posted: Tue, Jul 29, 2003, 9:05 AM ET (1305 GMT)
Northrop Grumman reported strong second quarter earnings on Monday based in large part on divisions of the company created from last year's acquisition of TRW. Overall the company reported income from continuing operations of $202 million in the second quarter on $6.6 billion in sales; Northrop recorded $181 million in net income on $4.2 billion in sales in the second quarter of 2002. Much of those sales came from Northrop's Mission Systems and Space Technology units, which the company created when it acquired TRW last year after protracted negotiations. The two units provided a combined $1.83 billion in sales and $129 million in income for the quarter.