NOC to Upgrade Navigation System - Analyst Blog
19 Juin 2013 - 1:05AM
Zacks
Northrop Grumman Corporation (NOC) received an
order from Wicklow, Ireland based Arklow Shipping to upgrade
container vessels with VisionMaster FT Electronic Chart Display
& Information Systems (ECDIS).
Per the contract, Northrop Grumman’s Sperry Marine business wing
will perform the work on 12 container vessels. VisionMaster FT
ECDIS will enable paperless navigation. The installation of
VisionMaster FT ECDIS is slated to complete by the end of next year
and will replace the existing NaviECDIS.
With the upgrades, these vessels will not only be able to meet the
International Maritime Organization's mandates for paperless
navigation, but will also be cost effective over the long term. The
12 ships being upgraded are multipurpose vessels ranging in
capacity from 3,000 to 5,000 gross tonnage.
With worldwide headquarters in Charlottesville, VA, Sperry Marine
is a unit of Northrop Grumman's Electronic Systems division. Sperry
Marine provides smart navigation and ship control solutions for the
international marine industry with customer service and support in
numerous locations worldwide.
Overall, Northrop Grumman offers a strong program portfolio
positioned to take advantage of several initiatives to ensure
further alignment with its customers' need to increase
affordability and cost competitiveness.
Going forward, with these contracts in hand and its cash deployment
strategy, we expect the company to continue to generate strong
earnings like it did in the first quarter.
The company’s backlog, which stood at approximately $39.4 billion
at the end of the first quarter of 2013, is expected to see further
upside in the near future through its strong focus areas of cyber
security, modernization of defense and homeland security assets,
intelligence, surveillance and reconnaissance systems, advanced
electronics and software development. Additionally, the proposed
25% increase in Northrop’s funding in the 2014 budget would
encourage future opportunities.
The company is the fourth largest U.S. defense contractor behind
The Boeing Company (BA), Lockheed Martin
Corp. (LMT) and General Dynamics Corp.
(GD) in terms of full year 2012 revenue. The company presently
retains a short-term Zacks Rank #3 (Hold).
BOEING CO (BA): Free Stock Analysis Report
GENL DYNAMICS (GD): Free Stock Analysis Report
LOCKHEED MARTIN (LMT): Free Stock Analysis Report
NORTHROP GRUMMN (NOC): Free Stock Analysis Report
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