Falls Church-based Northrop Grumman Corporation (NYSE: NOC) posted an improved quarter net income with earnings up 16 percent to $520 million, or $1.86 per diluted share compared to $448 million, or $1.51 per diluted share, in the same time last year.
Sales from operations amounted to $6.6 billion which was down from $7.0 billion in the third quarter of 2010.
Northrop Grumman raised 2011 guidance for EPS from continuing operations from $6.75 to $6.90 to $6.95 to $7.05.
Earnings beat analyst average estimates of $1.68 per diluted share and surpassed the high estimate of $1.75 per diluted share. Sales did not meet analyst revenue estimates, falling short of the average estimate of $6.82 billion and a low estimate of $6.72 billion.
Northrop Grumman shares were down 1.54 percent to 55.70 in Wednesday morning trading.