Northrop Grumman Profit Jumps 20 Percent as Sales Rise

Northrop Grumman Crop. says its first-quarter profit increased 20 percent with sales starting to pick up.

The aerospace and electronics manufacturer on Wednesday reported income of $469 million, or $1.53 a share, for the first three months of the year. That compares with $389 million, or $1.17 a share, in the same period last year.

Revenue increased 9 percent to $8.61 billion.

Analysts expected earnings of $1.32 a share on revenue of $8.07 billion.