Aerospace and defense company Northrop Grumman Corporation (NOC) announced that it received A-Mod Mission Service Bus (MSB) Framework (AMBER) contract worth more than $400 million from the U.S Defense department.
Through this AMBER contract Northrop will provide software and system support services as a part of the Defense department's analytic modernization effort. To complete the contract the company will seek assistance from large and small business partners who will help in development, servicing and effective completion of the contract.
The AMBER contract is for a base year with an option for four additional years. Northrop will provide AMBER support services in Columbia, Maryland.
Northrop is consistently winning new contracts from the defense department. The company ended the second quarter 2010 with a total backlog of $66 billion, which reflects new awards of $6.5 billion in the quarter. Some significant contracts received by the company during the recently concluded second quarter are worth $517 million for developing up to three Long Endurance Multi-Intelligence Vehicle systems (LEMCs) and $200 million for F-35 and $135 million for F/A- 18.
The adjusted earnings of Northrop at the end of second-quarter 2010 were $2.34 per share versus $1.21 per share at the end of second-quarter 2009. The Zacks Consensus Estimates for third-quarter 2010, fiscal year 2010 and fiscal year 2011 are $1.46 per share, $6.83 per share and $6.80 per share, respectively.
The major competitors of the company are Boeing Company (BA), General Dynamics Corporation (GD) and Lockheed Martin Corporation (LMT). During the second quarter, the reported earnings of both Northrop and its peers surpassed expectations, reflecting a gradual recovery of the aerospace and defense industry.
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