Northrop sees pressure on book-to-bill ratio given uncertainty

WASHINGTON Wed Jan 30, 2013 12:11pm EST

WASHINGTON Jan 30 (Reuters) - Northrop Grumman Corp Chief Executive Wes Bush said he sees increasing pressure on the company's book-to-bill ratio in 2013 given continued uncertainty about the future U.S. budget outlook, and would view a ratio anywhere near 1 as positive.

"We all recognize that this year, with the continuing resolution that we have in place, much less some of the uncertainties that we see as potentials on the horizon, that book to bill is going to be under pressure and getting to a 1 book to bill would be a tremendous outcome," Bush said on Thursday.

Northrop reported a total backlog of $40.8 billion at the end of 2012, including new business awards of $26.5 billion. Total sales for 2012 were $25.2 billion.