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September 01, 1994|From Times Staff and Wire Reports

Litton Reports $59-Million Loss: The defense contractor said the loss amounted to $1.29 a share for its fourth quarter ended July 31. It cited previously announced charges for settlement of a federal whistle-blower lawsuit and debt retirement. The company earned $45.6 million, or $1.09 a share, in the same period a year ago. In July, Litton Industries Inc. announced it had agreed to pay $82 million to settle a lawsuit filed by a former employee who accused the company of cheating the Pentagon through questionable bookkeeping.

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