Northrop Grumman 2Q report

LOS ANGELES - Northrop Grumman Corp. reported that second quarter 2009 earnings from continuing operations totaled $394 million compared with $483 million in the second quarter of 2008. Second quarter 2009 earnings included a net $64 million pre-tax gain for legal matters as well as a $105 million pre-tax charge for cost increases in the estimates to complete several ships under construction at the company's Gulf Coast shipyards. (Source: Northrop via PRNewswire, 07/23/09) Gulf Coast note: Northrop has multiple operations along the Gulf Coast.