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Earnings Tumble At HII Amid Solid Sales In Second Quarter

Cal Biesecker By
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Earnings Tumble At HII Amid Solid Sales In Second Quarter
Chris Kastner, president and CEO of HII. (Photo: HII)

HII [HII] on Thursday reported lower earnings in the second quarter on a steep drop in operating income at two of its business segments despite a solid increase in sales. Net income fell 27 percent to $130 million, $3.27 earnings per share (EPS), from $178 million ($4.44 EPS) a year ago, beating consensus estimates by 15 cents per share. Sales increased 5 percent to a record $2.8 billion from $2.7 billion a year ago. The results were similar to the…

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