LOS ANGELES, Aug. 30, 2005 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE: NOC) is currently assessing the impact of Hurricane Katrina to its facilities on the Gulf Coast. Initial reports indicate that the company's Ship Systems sector facilities encountered strong hurricane winds and storm surge, and all of the sector's facilities have experienced power, fuel and potable-water outages. As winds and waters subside, company personnel will gain improved access to the facilities in order to more thoroughly assess facility conditions. The sector will be able to determine its timetable for a return to operations once that assessment is complete.
The unsettled situation and the possible effect on the work force, facilities and operations at the Ship Systems sector prevent the company from evaluating, at this time, the impact of Hurricane Katrina on its revenue, earnings and cash flow, net of insurance and contractual provisions. The company will be working closely with its customers and its insurance providers to address the current situation.
Northrop Grumman Corporation is a global defense company headquartered in Los Angeles, Calif. Northrop Grumman provides technologically advanced, innovative products, services and solutions in systems integration, defense electronics, information technology, advanced aircraft, shipbuilding and space technology. With more than 125,000 employees, and operations in all 50 states and 25 countries, Northrop Grumman serves U.S. and international military, government and commercial customers.
Contacts: Dan McClain (Media) (310) 201-3335 Gaston Kent (Investors) (310) 201-3423