Home Society Acquisition drives Northrop Grumman turnover

Acquisition drives Northrop Grumman turnover

Northrop Grumman, producer of the B2 bomber and the Global Hawk drone among others, achieved a clearly higher turnover in the first quarter. This is mainly due to the acquisition of rocket manufacturer Orbital ATK, which added more than $ 1.4 billion to revenue.

In total, the sales of the defense group amounted to nearly $ 8.2 billion compared to more than $ 6.7 billion a year earlier. Orbital ATK now goes through life as the Northrop division Innovation Systems. The company also boosted revenue at the aviation division, helped by more work for the F-35, also known as the Joint Strike Fighter. However, turnover fell at the IT and automation branch.

Net profit increased by 3 percent to $ 863 million. Northrop raised its forecast for adjusted earnings per share.

Industry colleague General Dynamics, manufacturer of, among others, Abrams tanks and Gulfstream business aircraft, also provided figures. The profit in the first quarter amounted to 745 million dollars on a turnover of 9.3 billion dollars.

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