WASHINGTON (dpa-AFX) - Defense contractor Northrop Grumman Corp. (NOC) Wednesday reported higher second-quarter profit and lifted its full year forecast.
Net earnings increased to $488 million or $2.05 per share from $480 million or $1.88 per share in the second quarter of 2012.
The latest results included a $0.08 per share charge, principally related to 'make-whole' premiums paid to redeem $850 million of senior notes on June 27.
Pension-adjusted earnings were $1.97 per share while it was $1.79 per share last year.
On average, 19 analysts polled by Thomson Reuters expected earnings of $1.71 per share for the quarter. Analysts' estimates typically exclude special items.
Sales increased to $6.294 billion from $6.274 billion. Analysts expected revenues of $5.98 billion.
Looking ahead, the company now sees earnings per share of $7.60 to $7.80 for 2013, up from its prior forecast of $6.85 to $7.15.
Sales are now estimated to be around $24.300 billion, slightly higher than the $24 billion estimated previously.
Wall Street expects 2013 earnings of $7.18 per share on revenues of $24.02 billion.
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