Government IT Sales Boost Northrop Grumman - InformationWeek

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Government IT Sales Boost Northrop Grumman

The defense contractor posted double-digit gains in sales and net income, largely due to increased sales of IT services to the government.

Stronger sales of IT services to the government helped defense contractor Northrop Grumman post double-digit gains in sales and net income during the second quarter, the company said Thursday.

Northrop Grumman's IT unit increased sales 9% year-over-year to $1.22 billion during the three months ended June 30, according to the company. Government IT sales increased 13% on the strength of several major contracts, including a $337 million deal to build a secure data network for the Department of Homeland Security and a $25 million deal to create a document-management system for the Securities and Exchange Commission.

Overall, Northrop Grumman said second-quarter sales increased 11% to $7 billion while net income increased 44% to $295 million. Earnings per share increased 44% to 79 cents.

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