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Business/Financial

Exelis Posts Higher Earnings, Sales In Fourth Quarter

By Cal Biesecker

Friday, February 27th, 2015

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Exelis Posts Higher Earnings, Sales In Fourth Quarter

Exelis says work on ship-based electronic warfare equipment helped boost sales last year. Photo: Exelis

Exelis [XLS] on Friday reported strong earnings in the fourth quarter on a slight increase in sales as both of its remaining operating segments contributed to the strong results.Net income from continuing operations increased 43 percent to $87 million, 45 cents earnings per share (EPS), from $61 million (31 cents EPS) a year ago. Sales edged up a percent to $933 million from $922 million.Exelis, which is being acquired by Harris Corp. [HRS], did not host a conference call with…

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