Northrop sets revised results targets for 2003

Newswire

LOS ANGELES, Nov 21 (Reuters) - Defense contractor Northrop Grumman Corp. on Thursday revised earnings estimates for next year to reflect its pending $6.6 billion purchase of TRW Inc. and sale of TRW's auto business, as well as the effect of discontinued operations. Northrop, the maker of the B-2 bomber, said it now expects so-called economic earnings -- which exclude the effects of its pension obligations -- of $7 to $7.50 per share in 2003, on sales of $25 billion to $26 billion. Last ...

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