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NORTHROP GRUMMAN CORPORATION

(NOC)
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Northrop Grumman : AARGM-ER Missile Achieves Successful Milestone C Decision; US Navy advanced weapon capability to counter anti-access and area denial threats approved to enter production phase

09/03/2021 | 10:36am EDT

LOS ANGELES - Northrop Grumman Corporation (NYSE: NOC) announced the AGM-88G Advanced Anti-Radiation Guided Missile Extended Range (AARGM-ER), developed under contract with the U.S. Navy, has successfully achieved a Milestone C decision, authorizing the company as the program's prime contractor the entry into low rate initial production (LRIP).

AARGM-ER Missile Achieves Successful Milestone C Decision

The AARGM-ER is launched from a US Navy F/A-18 during a successful live fire test at Point Mugu Sea Test Range, California. (U.S. Navy Photo)

'The additional capabilities of AARGM-ER, coupled with its high-performance air vehicle, will provide our fleet with the most advanced weapon system to defeat evolving surface-to-air threats,' said Capt. A.C. 'Count' Dutko, Navy Program Manager for Direct and Time Sensitive Strike (PMA-242). 'Our team has continued to prove the maturity of the system and we are confident AARGM-ER is ready to commence low rate production.'

This decision enables the start of the production to support future deployment of the AARGM-ER to the fleet and achievement of initial operating capability.

'AARGM, and now AARGM-ER, is a time-critical capability that protects and enhances the capabilities of the U.S. Navy and the evolving threats they encounter,' said Gordon Turner, vice president, advanced weapons, Northrop Grumman. 'We are honored to continue providing advanced suppression and destruction of enemy air defense products to the warfighters with this significant expansion to our missile prime business.'

AARGM-ER is a major upgrade to the existing AARGM missile, currently in production and fielded with the Navy today.

AARGM-ER is being integrated on the Navy F/A-18E/F Super Hornet and EA-18G Growler aircraft as well as the Air Force F-35A, Marine Corps F-35B, and Navy F-35C aircraft.

Northrop Grumman solves the toughest problems in space, aeronautics, defense and cyberspace to meet the ever evolving needs of our customers worldwide. Our 90,000 employees define possible every day using science, technology and engineering to create and deliver advanced systems, products and services.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 36 251 M - -
Net income 2021 5 125 M - -
Net Debt 2021 7 982 M - -
P/E ratio 2021 12,8x
Yield 2021 1,51%
Capitalization 65 038 M 65 038 M -
EV / Sales 2021 2,01x
EV / Sales 2022 1,91x
Nbr of Employees 97 000
Free-Float 99,3%
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Number of Analysts 17
Last Close Price 406,21 $
Average target price 409,75 $
Spread / Average Target 0,87%
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Managers and Directors
Kathy J. Warden Chairman, President & Chief Executive Officer
David F. Keffer Chief Financial Officer & Vice President
Richard Scott Stapp Chief Technology Officer
Carl Hahn Chief Compliance Officer & Vice President
Donald E. Felsinger Lead Independent Director
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