Key Developments: Northrop Grumman Corp (NOC.N)

Latest Key Developments (Source: Significant Developments)

Northrop Grumman Corp Announces Additional $4 Billion Share Repurchase Authorization
Thursday, 16 May 2013 05:00pm EDT

Northrop Grumman Corp announced that its board of directors has authorized an additional $4 billion for the repurchase of the company's common stock. With authorization, the Company's outstanding share repurchase authorizations total approximately $5 billion. Northrop Grumman currently plans to repurchase shares with the goal of retiring approximately 25% of its shares outstanding by the end of 2015, market conditions permitting. Share purchases will take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions. As of March 31, 2013, Northrop Grumman had approximately 235 million shares outstanding. Full Article

Northrop Grumman Corp Announces 11% Dividend Increase To $0.61 Per Share
Wednesday, 15 May 2013 07:00am EDT

Northrop Grumman Corp announced that the Board of Directors declared a quarterly dividend of $0.61 per share on Northrop Grumman common stock, an 11% increase from the prior quarterly dividend of $0.55 per share. The dividend is payable June 12, 2013, to shareholders of record as of the close of business May 28, 2013. Full Article

Northrop Grumman Corp Reaffirms FY 2013 Guidance
Wednesday, 24 Apr 2013 07:00am EDT

Northrop Grumman Corp announced that the Company's fiscal 2013 financial guidance is unchanged from January 30, 2013. The Company expects sales of $24.000 billion, and diluted EPS from continuing operations in the range of $6.85-$7.15. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $7.02 for fiscal 2013. Full Article

Northrop Grumman Corp's Astro Aerospace Receives Follow-On Order for 48 More JIB Antennas for GPS III Satellites
Wednesday, 17 Apr 2013 11:00am EDT

Northrop Grumman Corp announced that it will provide 48 more self-deploying, monopole JIB antennas for Global Positioning System (GPS III) satellites under a follow-on contract from Lockheed Martin Corporation. The work will be carried out by Astro Aerospace, a strategic business unit of Northrop Grumman. With an adaptable design configuration, JIBs can be tailored to specific applications; they are available in monopole diameters from ½ inch to 1 3/8 inches and any length up to 25 feet. Each antenna stows in a compact 4-inch by 4-inch by 2.5-inch canister. The follow-on contract continues Northrop Grumman's support to the GPS satellite constellation, having delivered more than 1,000 JIB assemblies for the previous GPS IIF and GPS IIR spacecraft configurations. In 2011, the company delivered 16 JIB antennas for the first two GPS III satellites. The U.S. Air Force develops, maintains and operates the GPS, a constellation of over 24 satellites maintained on-orbit to provide worldwide navigational information. GPS III satellites are under development by an industry team led by Lockheed Martin in Newtown, Pa. The first GPS III is scheduled to join the on-orbit constellation in 2015. Full Article

Northrop Grumman Corp Secures U.S. Navy Contract to Upgrade, Enhance NGC2P Tactical Data Link Processor
Friday, 5 Apr 2013 02:00pm EDT

Northrop Grumman Corp announced that the U.S. Navy has awarded Northrop Grumman an $80 million contract to upgrade and enhance the Next Generation Command and Control Processor (NGC2P). The NGC2P system is a tactical data link communication processor that provides critical real-time information about friendly and enemy activity during combat operations. The five-year, indefinite-quantity, indefinite-delivery NGC2P Technology Refresh and Link 22 contract was awarded Jan. 9 by the Space and Naval Warfare Systems Command (SPAWAR), San Diego. An additional two-year option would bring the total value to $95 million. Under the contract, Northrop Grumman will provide software and hardware system development, engineering services and technology refresh field change kits for the communications processors aboard naval surface ships. Northrop Grumman will first provide designs addressing obsolescence issues in the current system. These improvements will increase computational capacity and later support system capability enhancements and new capability insertion, such as integration of the Link 22 secure digital radio link. The Northrop Grumman NGC2P team includes GET Engineering, El Cajon, Calif.; FUSE Integration, Inc., Long Beach, Calif.; and Technology Unlimited Group, San Diego. Full Article

Northrop Grumman Corp Secures U.S. Navy Performance-Based Logistics Contract for Carrier Aircraft Inertial Navigation System
Thursday, 28 Mar 2013 11:00am EDT

Northrop Grumman Corp announced that it has been awarded a follow-on performance-based logistics contract to provide logistics, material and technical support for the AN/ASN-139 Carrier Aircraft Inertial Navigation System (CAINS II) installed on various U.S. Navy and foreign aircraft. The U.S. Naval Supply Systems Command granted the five-year, firm-fixed-price contract, which has a total value of $13.2 million, to Northrop Grumman. Under the contract, Northrop Grumman is supplying material- and configuration-management services for the AN/ASN-139 CAINS II, which is used on the C-2A, E-2C, F/A-18, S-3 and AV-8B aircraft. Full Article

Defense Information Systems Agency Selects Northrop Grumman Corp For Joint Command And Control System
Tuesday, 12 Mar 2013 09:30am EDT

Northrop Grumman Corp announced that it has selected to modernize and sustain the U.S. Department of Defense (DOD) joint command and control (C2) system used to provide accurate, complete and timely information for the armed forces operational chain of command. Under the Encore II contracting vehicle from the Defense Information Systems Agency, Northrop Grumman was awarded $58 million for the base year of a task order for Global Command and Control System-Joint (GCCS-J) engineering support services. The contract has a potential value of $211 million over 54 months, if all options are exercised. GCCS-J program objectives include modernizing the architecture in compliance with Joint C2 Common Architecture standards, accelerating the integration of warfighter capabilities and significantly reducing life cycle costs. Tasking under the contract includes systems engineering, security engineering, development and sustainment of applications for situational awareness, force protection, C2 and intelligence support. Full Article

Northrop Grumman Corp Declares Quarterly Dividend
Tuesday, 19 Feb 2013 06:45pm EST

Northrop Grumman Corp announced that The board of directors have declared a quarterly dividend of $0.55 per share on Northrop Grumman common stock, payable March 20, 2013, to shareholders of record as of the close of business March 4, 2013. Full Article

Northrop Grumman Corp Issues FY 2013 Guidance; Revenue Guidance Below Analysts' Estimates
Wednesday, 30 Jan 2013 07:01am EST

Northrop Grumman Corp announced that for fiscal 2013, it expects sales of $24.000 billion and diluted EPS from continuing operations in the range of $6.85-$7.15. The Company's 2013 financial guidance is based on the assumption that the current six-month Continuing Resolution (CR) will be immediately followed by appropriations, which, even if in the form of a full-year CR, will provide for program spending levels consistent with those set forth in the President's fiscal 2013 Budget request (PBFY13) and that support and fund the Company's programs. Guidance for fiscal 2013 also assumes there is no disruption or shutdown of government operations resulting from a federal government debt ceiling breach or lack of immediate appropriations following the current CR, that sequestration is not triggered, and any budgetary approach agreed by Congress to address longer term spending does not result in significant reductions to its customers' fiscal 2013 budget levels. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $24.363 billion and EPS of $6.99 for fiscal 2013. Full Article

Northrop Grumman Corp Secures H-1 Helicopter Mission Computer Contract By U.S. Navy
Tuesday, 29 Jan 2013 11:00am EST

Northrop Grumman Corp announced that it has been awarded a contract by the U.S. Naval Air Systems Command to provide Gen II mission computers for the H-1 Upgrade helicopter program.Under the $9.3 million firm-fixed-price order, Northrop Grumman will supply Gen II mission computers and trays for the H-1 Upgrade program's Lot 10 production aircraft. Deliveries are expected to be completed by January 2015. Full Article

Northrop Grumman Corp News

Lawmakers blast Air Force moves on cancelled Northrop drone

WASHINGTON - Two U.S. lawmakers urged Defense Secretary Chuck Hagel to ensure that the Air Force complied with a law requiring the service to buy three high-altitude Global Hawk unmanned planes built by Northrop Grumman Corp that it had tried to cancel.

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Earnings vs. Estimates

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