oct 27 reuters  us defense contractor northrop grumman corp nocn on thursday said it expected fullyear sales and profit to be near the lower end of its forecast amid lingering supply chain snags and higher costs that have weighed on earnings throughout the industry the companys shares were flat versus wednesday at 53197 during midday trading in new york after dipping to 505 before the opening bell northrop estimated 4 to 5 revenue growth in 2023 northrop had forecast 2022 sales in the range of 362 billion to 366 billion and a profit per share between 2450 and 2510 defense companies still reeling from higher costs and labor shortages continue to experience supply chain constraints that have impacted production by them and their suppliers on a postearnings conference call with investors chief executive kathy warden said that inflation remains at 40year high lead times have been extended in certain areas of our supply chain and the labor market shows signs of easing but it remains tight for critical skills northrop is now seeing improving trends in labor availability after struggling with covid19 pandemicrelated labor challenges read more labor availability is gradually improving as 2022 has progressed chief financial officer dave keffer told reuters in an interview praising his human resources team there was a lot of daytoday blocking and tackling across a business of our size to have 2700 net hires in the quarter keffer said revenue at its aeronautics systems unit which manufactures military aircraft such as the b21 raider fell about 7 to 254 billion in the third quarter ended sept 30 due to lower sales of planes and autonomous aircraft systems overall revenue rose 3 in the quarter to 897 billion but missed analysts average expectation of 913 billion as per refinitiv data sales at the space systems division aided by higher demand for space exploration rose about 18 to 316 billion helping the falls church virginiabased company offset lower sales at the aeronautics and defense units read more northrop reported a 14 fall in quarterly adjusted net earnings to 915 million or 589 per share below expectations of 611 per share its yeartodate booktobill which is a ratio of orders received to units shipped and billed was 114 reporting by mike stone in washington dc nathan gomes in bengaluru editing by milla nissi will dunham and jason neely