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Northrop upbeat as bomber award looms
http://www.heraldnet.com/article/20150130/BIZ02/150139954Northrop upbeat as bomber award looms
Bloomberg News
Published: Friday, January 30, 2015, 12:01 a.m.
Northrop Grumman Corp., vying with two larger defense contractors for a U.S. bomber contract to be awarded this year, predicted a 2015 profit that exceeded analysts’ estimates.
Annual earnings will be $9.20 to $9.50 a share, Northrop said Thursday, topping the average estimate of $9.08. Sales will be $23.4 billion to $23.8 billion, according to the Falls Church, Virginia, company.
Revenue in that range would mark a drop from last year’s $24 billion.The Long Range Strike-Bomber competition for the U.S. Air Force could be a boon for Northrop and reverse six quarters of falling sales. Northrop, which previously made the B-2 Spirit stealth jet, is competing with a Lockheed Martin Corp.-Boeing Co. team for the program, which could call for 80 to 100 aircraft at a cost of $550 million apiece.
The potential $55 billion deal would dwarf drone and radar contracts won in the fourth quarter by Northrop, the maker of the Global Hawk unmanned surveillance plane.