Northrop to take 1Q charge of at least $320M
Tuesday, April 15, 2008 1:45 PM
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Northrop Grumman Corp. will take a charge between $320 million and $360 million related to its shipbuilding business in its first-quarter earnings, the company said Tuesday.
On a per-share basis, the charge will be between 61 and 69 cents.
The charge will reflect delays in the completion of the LHD-8 amphibious assault ship, as well as resource impacts on other Gulf Coast ships, and an evaluation of purchased intangible assets associated with the shipbuilding business.
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The company is set to release its first-quarter earning later this month.
Los Angeles' Northrop (NYSE: NOC) is a global defense and technology company. It also is the nation's largest shipbuilder.
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