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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. 

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22 Jul 2014