January 25, 2018 / 11:38 AM / a month ago

Northrop revenue rises 3.7 percent

Jan 25 (Reuters) - U.S. weapons maker Northrop Grumman Corp reported a 3.7 percent rise in quarterly revenue, helped by higher sales in its aerospace and mission systems businesses.

Net sales rose to $6.63 billion in the fourth quarter ended Dec. 31 from $6.40 billion a year earlier. (bit.ly/2DBxzFn)

However, net income for the maker of Global Hawk surveillance planes fell to $178 million, or $1.01 per share, from $525 million, or $2.96 per share, a year earlier.

Net earnings were hurt by a higher tax expense and $500 million discretionary pre-tax pension contribution. (Reporting by Ankit Ajmera in Bengaluru;Editing by Anil D‘Silva)

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