Defense contractor Northrop Grumman Corp. said on Wednesday that its third–quarter profit edged up on contributions from its aerospace, electronics and technology businesses, and boosted its earnings guidance for the year.
Shipbuilding was the only operating segment where profit dropped in the latest quarter.
Defense companies are under pressure to cut costs from the Pentagon and other weapons buyers. That has forced most of them to shrink, and Northrop is looking at selling or spinning off the shipbuilding unit, although it hasn't made a decision yet.
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Shipbuilding was the only operating segment where profit dropped in the latest quarter.
Defense companies are under pressure to cut costs from the Pentagon and other weapons buyers. That has forced most of them to shrink, and Northrop is looking at selling or spinning off the shipbuilding unit, although it hasn't made a decision yet.
Click here to see more at tmcnet.com
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