Litton’s Net Income Rises 14% in 3rd Quarter
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Litton Industries Inc. posted a 14% rise in its net income for the second quarter and for its six months that ended Jan. 31
The Woodland Hills-based defense contractor said that its second-quarter profit rose to $32.7 million, up from $28.6 million in the same period a year earlier, while revenues in the latest quarter rose 6% to $739.4 million, up from $694.4 million a year ago.
For the six months, Litton’s net income climbed to $69.4 million, up from $60.7 million a year earlier. Revenues for the six months rose 6% to $1.58 billion, compared to $1.48 billion in the same period a year ago.
The company said various acquisitions it made in the past fiscal year helped boost its sales and profits.
Litton is a major builder of navigation systems for defense and commercial use, as well as combat ships for the Navy.
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