Northrop Grumman Corp. said Wednesday that growth in its once shipbuilding unit helped boost net income 20 percent in the first quarter, beating analysts’ estimates. The company also boosted its outlook for the year.

The Los Angeles defense contractor, which this week said it will relocate its corporate headquarter to Washington, D.C.’s Virginia suburbs, reported net income of $469 million ($1.53 a share) compared with $389 million ($1.17) a year earlier. Revenue rose 9 percent to $8.61 billion.

Analysts surveyed by Thomson Reuters on average expected per-share profit of $1.32 on revenue of $8.07 billion.

Operating income in the company’s flagship aerospace division, which will continue to be based in Los Angeles, rose 10 percent. The smaller shipbuilding unit grew 26 percent. Information systems was the only division to show a decline, down 1 percent.

Northrop was awarded $6.9 billion worth of business in the quarter, bringing the total backlog to $67.5 billion. The company raised its 2010 earnings forecast by five cents. , saying it expects to earn between $5.75 and $6 a share from continuing operations.

“This was a solid quarter for Northrop Grumman,” said Chief Executive Wes Bush in a statement. “Looking ahead, we are focused on continuing to drive performance improvements that create value.”

Shares closed up $1.58, or 2 percent, to $68.76 in the New York Stock Exchange.