Los Angeles-based leading shipbuilder and defense contractor Northrop Grumman Corporation (NOC) announced that its Scalable Space Inertial Reference Unit also known as Scalable SIRU has been selected as the inertial reference unit for The Boeing Company’s (BA) Space and Intelligence Systems satellite platform.
As per the terms of the strategic agreement between Boeing and Northrop Grumman, the Scalable SIRU will be incorporated as the baseline design for Boeing satellites over the next two years.
The Scalable SIRU is the industry standard for high-precision, long-life attitude control solutions supporting commercial, government and civil space missions. Northrop Grumman’s Scalable SIRU and its predecessor, the space inertial reference unit (SIRU), supply critical rotation rate data for use in satellites and space vehicles for stabilization, pointing and attitude control.
Los Angeles-based Northrop Grumman Corporation is one of the world’s leading shipbuilders and the third largest after Boeing and Lockheed martin Corporation (LMT) defense contractor in the U.S. in terms of trailing twelve months sales.
Northrop Grumman provides products, services and solutions in respect to information and services, aerospace, electronics and shipbuilding to the military, government and commercial customers in the United States and beyond.
Northrop Grumman’s success in the competitive defense industry depends upon its ability to develop and market its defense-related products and services to the U.S. Government, as well as its ability to provide people, technologies, facilities, equipment and financial capacity needed to deliver those products and services at maximum efficiency.
Northrop’s product line is well positioned in high priority categories, such as defense electronics, next-generation ships, unmanned aircraft and missile defense. Revenue and earnings growth continue to be driven by its strong presence in the current focus areas of cyber security, intelligence, surveillance and reconnaissance.
During the third quarter earnings call, the company announced 2010 earnings per share in a range of $6.85 to $7.00. The Zacks Consensus Estimates for fourth quarter fiscal 2010, fiscal year 2010 and fiscal year 2011 are $1.01 per share, $6.51 per share and $6.94 per share, respectively.
Northrop presently has a Zacks #3 Rank (short-term Hold recommendation) on the shares. We also maintain our “Neutral” long-term recommendation on the stock.
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