Northrop Grumman 2010 Annual Report Download - page 115

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19. UNAUDITED SELECTED QUARTERLY DATA
Unaudited quarterly financial results are set forth in the following tables. It is the company’s long-standing
practice to establish actual interim closing dates using a “fiscal” calendar, which requires the businesses to close
their books on a Friday, in order to normalize the potentially disruptive effects of quarterly close on business
processes. The effects of this practice only exist within a reporting year. The company’s common stock is traded
on the New York Stock Exchange (trading symbol NOC).
2010
$ in millions, except per share 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Sales and service revenues $8,610 $8,826 $8,714 $8,607
Operating income 765 716 801 788
Earnings from continuing operations 462 711 489 376
Net earnings 469 711 497 376
Basic earnings per share from continuing operations 1.53 2.37 1.67 1.29
Basic earnings per share 1.55 2.37 1.69 1.29
Diluted earnings per share from continuing operations 1.51 2.34 1.64 1.27
Diluted earnings per share 1.53 2.34 1.67 1.27
Significant 2010 Fourth Quarter Events – In the fourth quarter of 2010, the company recorded a pre-tax charge of
$231 million related to the redemption of outstanding debt and made a $440 million contribution to the
company’s pension plans.
2009
$ in millions, except per share 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Sales and service revenues $7,935 $8,545 $8,350 $8,925
Operating income 619 614 619 631
Earnings from continuing operations 366 368 464 375
Net earnings 389 394 490 413
Basic earnings per share from continuing operations 1.12 1.14 1.46 1.20
Basic earnings per share 1.19 1.22 1.55 1.32
Diluted earnings per share from continuing operations 1.10 1.13 1.45 1.19
Diluted earnings per share 1.17 1.21 1.53 1.31
Significant 2009 Fourth Quarter Event – In the fourth quarter of 2009, the company sold ASD for $1.65 billion in
cash.
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NORTHROP GRUMMAN CORPORATION