Rapid Fire Oct. 24, 2012: Primes Continue to Lose Ground in Q3
- When President Obama said sequestration “will not happen” during the last pre-election debate, it seems he meant “should not happen.”
- The US Navy continues to play a significant role [PDF] in the economy of the Hampton Roads area in Virginia.
- Northrop Grumman’s Q3 2012 sales are down 5.2% (Y/Y) to $6.27B, but their total backlog is up by $1.5B to $41B. Continuing a trend seen in previous quarters, information and electronic systems are driving revenue down, while aerospace has grown 5% to $2.59B thanks to UAVs and the F-35.