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Northrop Grumman Corporation

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Northrop Grumman’s fourth-quarter 2014 quarterly earnings and revenues surpassed expectations. In 2014, total order backlog was $38.2 billion up 3.2% from the 2013 level, primarily due to higher contribution from its Aerospace and Electronic Systems segments. It also successfully reduced its operating expenses by 3.5% in 2014 from the prior year. The company expects to maintain the positive growth momentum and projects its 2015 earnings in the range of $9.20-$9.50 per share, higher than $8.93 earned in 2014. The company’s product innovation and focus on strengthening its ISR wing will help maintain a stable earnings stream in light of the changing needs of the defense landscape. However, dependence on funding authorizations by the U.S. government raises concerns.


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