Northrop Grumman Corporation is an American aerospace and defense company. As of 2014, it is one of the world’s largest defense contractors. It is is based in Falls Church, Virginia.
According to the Northrop Grumman Corporation, they are “an enterprise that covers the entire battlespace spectrum, from undersea to outer space and into cyberspace.”
The company was founded by John K. “Jack” Northrop in 1939. He formed the company under the name “Northrop Aircraft Incorporated”.
Northrop’s first aircraft was produced in 1940, the N-3PB patrol bomber, for the Norwegian Air Force.
The company changed its name from Northrop Aircraft Incorporated to Northrop Corporation in 1959.
In 1964 the company delivered the first fighter aircraft U.S. Air Force – the F-5 supersonic fighter.
In the 1990’s defense companies faced the option of either being acquired or expanding their product line. In 1994 Northrop acquired Grumman Corporation, “A premier military aircraft systems integrator and builder of the Lunar Module that first delivered men to the surface of the moon”.
The company also acquired the following companies: Westinghouse Electric Corporation, Teledyne Ryan Aeronautical, Litton Industries, Newport News Shipbuilding, TRW Incorporated, and others.
Northrop Grumman Corporation – Business Sectors
Northrop Grumman Corporation’s operations are organized into four main business sectors: Northrop Grumman Aerospace Systems, Northrop Grumman Electronic Systems, Northrop Grumman Information Systems, and Northrop Grumman Technical Services.
Northrop Grumman Aerospace Systems: This division of the company focuses on the development of manned and unmanned aircraft, spacecraft, and high-energy laser systems.
Northrop Grumman Electronic Systems: The company’s Electronic Systems division produces advanced electronic and maritime systems. Products include: airborne surveillance, space sensing, biochemical detection, intelligence fusing and analysis, aircraft fire control, precision weapon engagement, electronic countermeasures, inertial navigation, air and missile defense, air traffic control, ship bridge control, communications, and mail processing. Maritime systems include propulsion and power-generation systems for ships and submarines, control systems, shipboard launch systems and unmanned semi-autonomous systems.
Northrop Grumman Information Systems: This division develops information systems such classified network infrastructure for government and commercial purposes.
Northrop Grumman Technical Services: This division provides logistics solutions, including supply chain management, training and simulation, and automated test equipment.
Northrop Grumman Corporation – Company Overview
Chairman, President, and CEO: Wes Bush- Company head office: Falls Church, Virginia, USA
- Employees: 68,100 (2012)
- Type: Public
- The symbol for Northrop Grumman common stock is NOC on the New York Stock Exchange.
- S&P 500 Component
- Founder: Jack Northrop
- Founded: 1939
Northrop Grumman Corporation – Financial Results
| Key figures (in millions of USD except for share data) | 2013 | 2012 |
| Total sales | $24,661 | $25,218 |
| Operating earnings | $3,123 | $3,130 |
| Net earnings (loss) | $1,952 | $1,978 |
| Total assets | $26,381 | $26,543 |
| Cash and equivalents at end of period | $5,150 | $3,862 |
| Earnings (loss) per share – basic | $8.50 | $7.96 |
| Earnings (loss) per share – diluted | $8.35 | $7.81 |
Source: “Northrop Grumman Reports Strong Fourth Quarter and 2013 Financial Results”
Wes Bush, chairman, chief executive officer and president of Northrop Grumman Corporation, commented on the results:
“Our team continues to deliver outstanding results. Although we are encouraged by progress toward a more normal budgeting process for our customers, we expect lower sales in 2014, particularly for our short cycle businesses. Despite this top line pressure, we expect other positive trends, particularly the benefit of our planned share repurchases, to support continued earnings per share growth in 2014. Our strategy remains the same. We are focused on superior program performance, effective cash deployment and portfolio alignment as the primary value creation drivers for our shareholders, customers and employees.”
Northrop Grumman Corporation – Live Stock Market Data
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