Northrop sees lower revenue, strong margins in 2014

Reuters

WASHINGTON, Oct 23 (Reuters) - Northrop Grumman Corp Chief Executive Wes Bush on Wednesday said continuinguncertainty about U.S. budget levels meant revenues were likelyto decline in 2014, but the company still expected to generatestrong margins.

Bush said he expected the company to continue generating strong cash flow in 2014, and aimed to convert 100 percent ofits earnings into free cash flow, before discretionary pensioncontributions.

Northrop reported free cash flow of $860 million in thethird quarter, up from $748 million in the year earlier period.It forecast free cash flow of $1.9 billion to $2.2 billion inthe full year.

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