Northrop Grumman

Ingalls Shipbuilding, in Pascagoula, Mississippi, was started by Ingalls Iron Works, of Decatur, Alabama, in 1938 and acquired by Litton Industries in 1961.  Avondale Industries, in New Orleans, Louisiana, was started in 1938, acquired by Ogden Corporation in the 1960s, spun off to Connell Partnership in 1985, spun off again in 1987, and finally acquired by Litton Industries in August, 1999.  Litton began the process of merging Avondale with Ingalls to form Litton Ship Systems but was acquired by Northrop Grumman in April 2001 and Litton Ship Systems was renamed Northrop Grumman Ship Systems.  Newport News Shipbuilding, in Newport News, Virginia, was started in 1891, acquired by Tenneco in 1968, spun off in 1996, and acquired by Northrop Grumman in November 2001.  Northrop Grumman Ship Systems was consolidated with Northrop Grumman Newport News to form Northrop Grumman Shipbuilding in January 2008.

The shipbuilding data for 2001 in the following table are misleading, since they include Ship Systems only from April 2001 onwards and Newport News only from November 2001 onwards.

 

NORTHROP GRUMMAN 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
  mm USD mm USD mm USD mm USD mm USD mm USD mm USD mm USD mm USD mm USD mm USD
Net Sales 7,798 7,367 7,616 7,618 13,558 17,206 26,396 29,853 25,186 30,148 32,018
Operating Margin 741 752 954 1,098 1,004 1,391 1,468 2,006 2,178 2,454 3,006
Operating Margin (%) 9.5% 10.2% 12.5% 14.4% 7.4% 8.1% 5.6% 6.7% 8.6% 8.1% 9.4%
Net Income 318 193 474 625 427 64 866 1,084 1,400 1,567 1,803
Net Income (%) 4.1% 2.6% 6.2% 8.2% 3.1% 0.4% 3.3% 3.6% 5.6% 5.2% 5.6%
Total Assets 9,677 9,536 9,285 9,622 20,886 42,266 33,022 33,361 34,211 32,009 33,373
Stockholders' Equity       3,919 7,391 14,322 15,785 16,700 16,824 16,615 17,687
Property, Plant and Equipment       1,015 2,767 3,605 4,047 4,210 4,404 4,531 4,715
Depreciation 200 179 162 175 266 496 682 734 773 705 730
Capital Expenditure     172 265 393 521 637 672 824 737 685
Employees 52,000 49,600 44,600 39,300 96,800 117,300 123,400 125,400 123,600 122,200 122,600
Net Sales/Employee 150,000 149,000 171,000 194,000 140,000 146,000 214,000 238,000 204,000 246,700 246,700
Shipbuilding Unit                      
Net Sales         1,880 4,712 5,451 6,252 5,786 5,321 5,788
Operating Margin         19 306 295 389 241 393 538
Operating Margin (%)         1.0% 6.5% 5.4% 6.2% 4.2% 7.4% 9.3%
Total Assets         6,040 6,532 6,482 6,521 6,756 6,946 6,874
Depreciation         82 147 142 148 155 153 170
Capital Expenditure         44 76 136 220 266 287 247
Employees         32,500 34,000 38,000 39,200      
Net Sales/Employee         n/a 138,600 143,400 159,500      
Shipbuilding Proportions