[SatNews] Northrop Grumman Corporation (NYSE:NOC) second quarter 2013 net earnings increased 2 percent to $488 million, or $2.05 per diluted share, from $480 million, or $1.88 per diluted share, in the second quarter of 2012.
Second quarter 2013 earnings include a $30 million pre-tax charge, or $0.08 per share, principally related to “make-whole” premiums paid to redeem $850 million of senior notes on June 27, 2013. Second quarter 2013 diluted earnings per share are based on 237.5 million weighted average shares outstanding compared with 254.7 million shares in the second quarter of 2012, a 7 percent decrease. The company repurchased 6.1 million shares of its common stock in the 2013 second quarter, and 12.6 million shares year-to-date, consistent with its previously announced goal of repurchasing approximately 60 million shares of its common stock by the end of 2015, market conditions permitting.
“Second quarter and year-to-date financial results reflect the hard work and dedication of the entire Northrop Grumman team. As a company, we remain focused on program performance, effective cash deployment and portfolio alignment as we continue to create value for our shareholders, customers and employees,” said Wes Bush, chairman, chief executive officer and president.
To read the entire financial report, access this direct web page link.
