Northrop Grumman posts a jump in 3Q net income

WASHINGTON (AP) — Northrop Grumman Corp., based in Los Angeles, said Wednesday that higher sales of surveillance systems and aircraft electronics helped boost its third-quarter profit 4.7 percent.

The company reported net income of $512 million, or $1.51 per share, in the quarter ending Sept. 30, up from $489 million, or $1.41 per share, a year earlier. The prior year's quarter included a gain of $21 million, or 6 cents per share, from a reorganization.

Northrop, which makes military aircraft, defense electronics and amphibious assault ships, said its revenue rose more than 6 percent to $8.38 billion, led by double-digit growth in its electronics segment. Northrop has about 1,250 employees in Utah.

Shares of Northrop rose $1.07, or 2.4 percent, to $45.91 Wednesday.