Earnings

Bethpage, N.Y.-based Grumman Corp. reported a 72% drop in its third-quarter net income, while revenue rose 17%. The firm’s third-quarter results include a charge of $30 million representing the estimated cost to fulfill an agreement with the Navy reached Oct. 30. The agreement requires Grumman to strengthen and repair the F-14 main landing gear bulkhead and to provide a redesigned bulkhead for future production units.