Northrop Grumman / NOC

About Northrop Grumman

1840 Century Park East, Los Angeles, Calif. 90067
www.northropgrumman.com | 310-553-6262 | Founded: 1939

Industry: Aerospace And Defense | Category: Major Employers Not Based in the Region

Last year, Northrop's shipbuilding business survived a potential budgetary disaster but was caught in the middle of a climatic disaster. Despite pressure to scale back Pentagon spending, the company's DD(X) destroyer program survived expected budget cuts. But three of the company's shipyards — two in Mississippi and one in Louisiana — were in the path of Hurricane Katrina and suffered $1 billion in damage. The company has said it expects to recover most of those losses through its insurance company.
The company also positioned itself for a major competition with Chicago-based Boeing Co. Northrop said it would use a plane from Boeing's European rival, Airbus SAS, to compete for billions of dollars of work building 100 refueling tankers for the Air Force. Boeing lost its initial contract to build the planes because of a procurement scandal, opening the work to competition.
Northrop also continued to focus on enlarging its information technology business. The company acquired the privately held firm Integic Corp. of Chantilly, which had $161 million in revenue in 2004, for an undisclosed price. Northrop also received a contract, potentially worth $2 billion, from the state of Virginia to modernize its information technology infrastructure. The public-private partnership will bring 433 high-tech jobs to southwest Virginia and 631 jobs to Chesterfield County, according to a Virginia Information Technologies Agency statement.
Northrop also settled a 16-year-old whistle-blower lawsuit in which the company was accused of overcharging the government for work done on several defense programs. The company agreed to pay $62 million to settle former employees' allegations that it inflated the price of several programs and misrepresented progress on others.

President and COO: Wes Bush

2005 Financial Data

Revenues: $30,721,000,000 | Net Income: $1,400,000,000
Assets: $34,214,000,000 | Earnings Per Share: $3.85
Stockholder Equity: $16,828,000,000 | Annual Dividend: $1.01
Total employees: 123,600 | Local employees: 20,340