Northrop CEO Cites Need to Balance Speed With Performance (1)

Northrop Grumman Corp. is balancing production of “exquisite” advanced weapons with the White House’s focus on developing systems quickly and cheaply, the chief executive officer said after the company reported a 17% jump in fourth-quarter income.

The manufacturer said Tuesday it reached a record backlog of $95.7 billion in orders amid heightened global tensions, stoking operating income of $1.27 billion that just beat the analyst estimates compiled by Bloomberg. Shares rose as much as 2.1% after earlier declines.

The backlog included awards for the F-35 fighter jet and Virginia-class submarines. CEO Kathy Warden said Northrop also reached agreement with the ...