Northrop Grumman Q4 Profit Declines; But Sees 2014 EPS Above View - Quick Facts

(RTTNews) - Defense contractors Northrop Grumman Corp. (NOC) reported fourth quarter 2013 net earnings of $478 million or $2.12 per share, down from $533 million or $2.14 per share, in the fourth quarter of 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $1.94 per share. Analysts' estimates typically exclude special items.

Pension-adjusted earnings per share declined to $2.00 from the prior year's $2.06.

Quarterly sales dropped to $6.16 billion from last year's $6.48 billion. Seventeen analysts estimated revenues of $6.01 billion for the quarter.

Looking Ahead for 2014, the company expects earnings per share to be in the range of $8.70 - $9.00, and sales of $23.50 billion - $23.80 billion. Street currently is looking for fiscal year 2014 earnings of $8.52 per share on annual revenues of $23.52 billion.