Northrop Grumman Corporation reported that first quarter 2011 earnings from continuing operations increased to $496 million, from $410 million in the first quarter of 2010. Details for the Aerospace Systems division :
Aerospace Systems ($ millions)
First Quarter 2011 2010 % Change
Sales $ 2,736 $ 2,696 1.5%
Operating income $ 301 $ 296 1.7%
As % of sales 11.0% 11.0%
Aerospace Systems first quarter 2011 sales increased 1 percent, principally due to higher volume for manned and unmanned aircraft and restricted programmes. Higher volume for these programmes was partially offset by lower volume for civil space programmes. Aerospace Systems first quarter 2011 operating income increased 2 percent, and as a percent of sales totalled 11 percent, unchanged from the prior year period. Higher operating income reflects higher volume than in the prior year period.
Source: Press Release