Litton Net Income Up 9% in 1st Quarter
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Litton Industries Inc. posted a 9% rise in its first quarter net income on slightly lower revenues.
Litton posted a net profit of $43.4 million in the quarter that ended Oct. 31, compared to a profit of $39.8 million in the same period a year earlier. Sales in the latest quarter were $1.04 billion, down from $1.05 billion last year.
Litton, headquartered in Woodland Hills, is a major defense contractor that provides various electronic components for the military and builds combat ships for the U.S. Navy.
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