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Earnings, Sales Dip At ITT Exelis

Defense Daily Staff

Monday, August 5th, 2013

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Earnings, Sales Dip At ITT Exelis

ITT Exelis [XLS] on Friday posted lower earnings and sales in its second quarter and the company reaffirmed its financial guidance for 2012. Net income slid 9 percent to $78 million, 41 cents earnings per share (EPS), from $86 million (46 cents EPS), but still topped consensus estimates by four cents. Lower sales overall and restructuring charges at the company’s C4ISR Electronics and Systems segment drove the decline in net income. AN/PVS-23 Night Vision Binoculars. Photo by ITT Exelis Sales dipped…

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