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.