Northrop Reaffirms Financial Guidance

Northrop Grumman Corp. confirmed its financial guidance given in July ahead of a series of meetings with key investors this week.

The Los Angeles aerospace and defense contractor said it expects 2001 sales of more than $13 billion, rising to $16 billion in 2002 and $18 billion in 2003. The company, which acquired Litton Industries this year, said it would post earnings per share of $6.20 to $6.50 in 2001, with double-digit earnings growth in the following two years.

Northrop shares were up 34 cents at $81.94 on the NYSE.