Northrop Grumman Corp.
1840 Century Park East
Los Angeles, Calif. 90067
www.northropgrumman.com Year founded: 1939 Industry: Aerospace/defense Revenue: n/a Net Income/Loss: n/a Earnings per share: n/a Dividend: n/a Stockholder equity: n/a Auditor: Deloitte & Touche LLP Stock: NOC Assets: n/a Market capitalization: n/a 52-week high: n/a 52-week low: n/a Chairman, CEO & President: Ronald Sugar Employees: 123000 Local employees: 18247 Description: Northrop Grumman, the third-largest defense contractor in the country, is one of the largest private employers in the Washington area. It continues to hire, particularly in information technology and missile defense. The company has several large contracts with the military to perform traditional defense-contractor work such as building new ships, upgrading aging aircraft carriers and making high-tech unmanned drone planes. The company is also eager to jump into building anti-missile technology. Developments: Northrop suffered some setbacks last year as the Defense Department sought to make it an example of contractors who were paid too much in bonuses for work that was not on time or on budget. Northrop agreed to lower its profit margin on a $1.5 billion project to overhaul the aircraft carrier USS Dwight D. Eisenhower as well as adopt a new and less generous bonus arrangement. But the company also scored a $4.5 billion Pentagon contract for anti-missile technology—a new and growing area for Northrop. Revenue rose to $26 billion in 2003 from $17 billion, largely because of the company's acquisition of TRW in 2003. That acquisition proved key for Northrop when it won a $4 billion, eight-year contract with Raytheon in December 2003 to develop the kinetic energy interceptor, a part of the missile defense shield that would identify and destroy enemy ballistic missiles. Northrop expects revenue to rise to $28 billion this year. The company is one of three vying to sell anti-missile technology to the Homeland Security Department that could prevent a U.S. airliner from being shot down by a shoulder-fired missile. Northrop is also bidding to develop the U.S. Air Force's Space Based Radar system, a constellation of satellites that will track movements of military targets on the ground.
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