AEROSPACE

Northrop Earnings Down Sharply: Northrop Corp. said its net income fell as sales were hit by a decline in orders for the B-2 bomber. Northrop, which makes the B-2 Stealth bomber and Rainbow missiles, said its fourth-quarter net income totaled $55 million, or $1.17 a share, down from $159 million, or $3.36 a share, a year earlier. The defense contractor’s 1991 results also include two one-time gains totaling $116 million for tax credits and a favorable adjustment of margins on its B-2 Stealth bomber work. Sales for the quarter fell slightly to $1.51 billion, from $1.57 billion, mainly because of lower revenue from the B-2 development program, the company said. Citing improved cash flow, the company also raised its quarterly dividend to 40 cents a share, from 30 cents a share.