Thursday, July 28, 2016

The price tag of Brexit for Northrop Grumman? $30 million

Northrop Grumman Corp.’s cash balances took a $30 million hit following the U.K.’s decision to leave the European Union in June, the company revealed on a second-quarter earnings call with analysts Wednesday. CEO Wes Bush didn’t indicate that the Brexit vote had an impact on the Falls Church-based defense contractor’s business, but rather that it was simply a “decrement” to its “report cash balances in U.S. dollars,” reflecting "the conversion of balances held in affected foreign currencies.” "While…



from http://www.bizjournals.com/baltimore/news/2016/07/28/the-price-tag-of-brexit-for-northrop-grumman-30.html?ana=RSS%26s=article_search
via http://baltimorecheckbook.tumblr.com/post/148095529222

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