UPDATE: Northrop Grumman Posts Drop In Q4 Profit

Northrop Grumman NOC reported a 2.7% drop in its fourth-quarter earnings. Northrop Grumman's quarterly profit fell to $533 million, or $2.14 per share, from $550 million, or $2.09 per share, in the year-ago period. Excluding one-time items, its earnings from continuing operations climbed to $2.06 from $1.85 per share. Its revenue fell 0.5% to $6.48 billion. However, analysts expected earnings of $1.74 per share on revenue of $6.33 billion. Its operating margin widened to 12.7% from 12.3%. Northrop Grumman shares closed at $66.77 yesterday.