Northrop Grumman Corp. said Tuesday that second-quarter earnings rose as gains in its new information technology unit offset a drop in sales at its aerospace and shipbuilding operations.

Net income for Northrop rose to $460 million ($1.31 per share), a 7 percent increase from $430 million ($1.23). Earnings from continuing operations rose 4 percent. Analysts predicted $1.24 per share, according to Thomson Financial.

Revenue for the L.A.-based defense and government contracting firm gained 4 percent to $7.9 billion, missing Wall Street’s projections for $8.02 billion.

Northrop also raised the lower end of its annual profit to $4.90 per share from $4.80 per share the top end remained at $5.05 per share. The company pinpointed its sales forecast at $32 billion.

Northrop is also in the hunt for one of the largest defense contracts ever offered a project to build the Air Force’s aerial refueling platform, potentially worth $100 billion.

Shares in Northrop were down 60 cents to $78.48 in afternoon trading Tuesday on the New York Stock Exchange. Shares are up more than 22 percent so far this year.