Exelis [XLS] on Friday reported lower net income and sales in its third quarter driven by weaker results in its C4ISR Electronics and Systems segment, although the company had a banner booking rate that is expected to mitigate somewhat top line pressures stemming from a constrained federal budget environment. Net income slid 9 percent to $80 million, 41 cents earnings per share (EPS), from $88 million (47 cents EPS) a year ago, in line with consensus estimates. Lower sales in…
Exelis Posts Declines In Income, Sales While Orders Soar
Defense Daily Staff
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