Litton Posts 3% Rise in 4th-Quarter Earnings
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Litton Industries Inc. posted a 3% rise in its fourth-quarter earnings on a 10% rise in sales.
The Woodland Hills-based defense contractor reported a net income of $44 million for the quarter that ended July 31, compared with net income of $42.7 million a year earlier. Sales in the latest period rose to $1.1 billion, up from $1 billion a year ago.
For the year, Litton had net income of $162 million, up 7% from $151 million in the same period a year earlier. The company’s sales for the year jumped 17% to $4.2 billion, up from $3.6 billion a year ago.
Litton attributed its results to a strong market demand for electronic components and materials.
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