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Northrop: Shipbuilding Business Has Room For Sales And Profit Growth

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By Calvin Biesecker Despite its surprising announcement on Tuesday that it plans to exit the shipbuilding business, Northrop Grumman [NOC] yesterday said its shipbuilding operations can increase revenues and have significant room to improve profit margins in the years ahead. The Shipbuilding division is expected to have sales this year of $6.2 billion, and eventually growing to about $6.5 billion annually, Wes Bush, Northrop Grumman's president and CEO, said on an analyst call yesterday. In addition, the business has backlog…

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