Northrop net rises less than 1%
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From Times Wire Services
Defense contractor Northrop Grumman Corp. increased fourth-quarter profit by less than 1% as its shipyards rebounded from Hurricane Katrina.
Net income rose to $454 million, or $1.31 a share, meeting analysts’ estimates, from $453 million, or $1.28, a year earlier, when results were boosted by an asset sale. Revenue climbed 10% to $8.82 billion, the Century City company said.
Sales rose at all four of the company’s business groups.
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