Weapons maker lands profit in third quarter

Defense contractor Northrop Grumman Corp. on Wednesday reported a third-quarter profit, after a loss the year before, boosted by stronger sales of its Global Hawk spy planes and combat ship systems.

The Los Angeles-based maker of the B-2 Stealth Bomber said it earned $184 million, or $1 per share, compared with a loss of $59 million, or 56 cents per share, a year earlier.

Manufacturing

Sauer reaffirms outlook

Manufacturing equipment maker Sauer-Danfoss Inc. on Wednesday posted a wider quarterly loss largely due to restructuring costs, but reiterated its full-year outlook due to optimism about the overall economy and its markets.

The company reported a third-quarter net loss of $2.2 million, or 5 cents a share, compared with a loss of $500,000, or 1 cent a share, in the year-ago quarter.

Sales in the quarter rose to $255.4 million from $223.9 million last year. Sauer-Danfoss repeated its full-year outlook, saying it expects to earn 40 to 50 cents a share, excluding restructuring costs. It provided that outlook at the beginning of the year.

The company operates a plant in the East Hills Business Park in Lawrence.

Investing

NYSE leader to propose changes in governance

New York Stock Exchange interim chairman John Reed will propose a package of governance changes, including splitting the board to make it more accountable to the public.

Reed will formally release the proposal Monday to members, who will vote on the plan Nov. 18, exchange officials said Wednesday. For the plan to be adopted, NYSE members must agree to amend the exchange’s constitution.

Transportation

K.C. Southern profits fall

Kansas City Southern’s third-quarter net income dropped on lower earnings from its stake in a Mexican railroad system and a reduction in other income.

The company said Wednesday it earned $4.3 million, or 2 cents a share, compared with $10.6 million, or 17 cents a share, last year.

The railroad said its results were hurt by lower earnings at Grupo Transportacion Ferroviaria Mexicana.

Banking

Cap Fed sets dividend

Topeka-based Capitol Federal Financial announced Wednesday it will pay shareholders a quarterly dividend of 50 cents per share.

The firm also announced it would pay a year-end dividend, as well, but did not announce the amount. The quarterly dividend is payable Nov. 21.