Key Developments: Northrop Grumman Corp (NOC)

NOC on New York Consolidated

24 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Northrop Grumman Corporation prices $600 million debt offering
Tuesday, 3 Feb 2015 05:30pm EST 

Northrop Grumman Corporation:Prices a $600 mln underwritten public offering of 3.85 pct senior unsecured notes due April 15, 2045.Expects to use the net proceeds for general corporate purposes, including funding a $500 mln voluntary contribution to its pension plans and debt repayment.offering is expected to close on Feb. 6.  Full Article

Northrop Grumman receives US Navy contract to begin production of additional airborne laser mine detection systems
Monday, 2 Feb 2015 11:30am EST 

Northrop Grumman Corp:Received a contract from the U.S. Navy for the continued production of the AN/AES-1Airborne Laser Mine Detection System.Contract includes the production of five ALMDS pod subsystems, support equipment, spares, and technical support.  Full Article

OSHA cites Northrop Grumman Corp. in Lake Charles La., for eight serious health violations with a penalty totaling $42,000 - OSHA
Sunday, 1 Feb 2015 07:00pm EST 

Northrop Grumman Corp:Workers painting and conducting paint removal from aircraft parts at Lake Charles are being overexposed to methylene chloride and hexavalent chromium - OSHA.OSHA cited the company for eight serious health violations for failing to provide engineering controls to keep worker exposure below the permissible exposure levels for these chemicals and for failing to provide adequate respiratory protection and equipment for the painters.The inspection began Aug. 2014 as the result of a complaint, but was expanded to also address the Occupational Safety and Health Administration's National Emphasis Program for Hexavalent Chromium.Proposed penalty amount is $42,000.  Full Article

Northrop Grumman Corp gives FY 2015 guidance; EPS guidance above analysts' estimates
Thursday, 29 Jan 2015 07:00am EST 

Northrop Grumman Corp:Expects FY 2015 sales in the range of $23.4-23.8 bln.Expects FY 2015 diluted EPS in the range of $9.20-$9.50.FY 2015 revenue of $23.5 bln and EPS of $9.11 - Thomson Reuters I/B/E/S.  Full Article

Northrop Grumman Corp awarded cyber security contract
Tuesday, 27 Jan 2015 06:00am EST 

Northrop Grumman Corp:Have been awarded contract by the government of the United Kingdom.To provide range of cyber security solutions.Under this competitively awarded, seven-year framework contract, Northrop Grumman will provide engineering and development services in support of data security and information assurance.  Full Article

Northrop Grumman Corp secures ICBM ground subsystems support contract
Thursday, 15 Jan 2015 08:00am EST 

Northrop Grumman Corp:Says the U.S. Air Force has awarded a contract for the support of Minuteman III Intercontinental Ballistic Missile (ICBM) Ground Subsystems.Northrop Grumman is the sole award recipient for the indefinite delivery/indefinite quantity contract that is worth $963.5 million, with an initial award value of about $4.4 million.Work will be performed by Northrop Grumman personnel at Hill Air Force Base, Utah; Omaha, Nebraska; Vandenberg Air Force Base, California; and San Bernardino, California.  Full Article

Northrop Grumman Corp renews service contract with Carisbrooke Shipping
Thursday, 11 Dec 2014 03:30pm EST 

Northrop Grumman Corp:Renewed service agreement with U.K.-based Carisbrooke Shipping Limited.Contract will cover spares and labour for navigation systems, communication equipment and voyage data recorders onboard the 23 vessels, which include 6,000-, 8,000- and 12,500- Dead Weight Tonnage bulkers.Northrop Grumman Sperry Marine has supplied gyro compasses, autopilots, speed logs, radar and Electronic Chart Display Information Systems (ECDIS) to these vessels.  Full Article

Northrop Grumman elects Kenneth L. Bedingfield corporate vice president and chief financial officer; James F. Palmer to retire in 2015
Monday, 8 Dec 2014 04:30pm EST 

Northrop Grumman Corporation:Says it has elected Kenneth L. Bedingfield, corporate vice president and chief financial officer, effective after the company files its 2014 annual report.Bedingfield will succeed James F. Palmer, who has announced his intention to retire in 2015.  Full Article

Northrop Grumman announces new $3 billion share repurchase authorization
Thursday, 4 Dec 2014 04:15pm EST 

Northrop Grumman Corporation:Authorizes an additional $3 bln for repurchase of company's common stock.Share repurchases will take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions.  Full Article

Northrop Grumman Corp declares quarterly dividend
Wednesday, 19 Nov 2014 06:30pm EST 

Northrop Grumman Corp:Says that it has declared a quarterly dividend of $0.70 per share on Northrop Grumman common stock.Payable Dec. 17, 2014, to shareholders of record as of the close of business Dec. 1, 2014.  Full Article


South Korea seeks bigger role in global arms bazaar

SEOUL - When South Korean president Park Geun-hye stopped off in Peru this week, her diplomatic tasks included drumming up interest in her country's home-grown light fighter jets.

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