Grumman Corp. of Bethpage, N.Y., reported a...

Grumman Corp. of Bethpage, N.Y., reported a 3% decrease in profit, despite a rise of $400-million in revenue for the 1986 year. In February 1986, Grumman issued 2,875,000 common shares, which reduced earnings per share by about eight cents. Net income for the year decreased principally from lower profit on aerospace sales and a significant increase in interest costs.