ITT Exelis [XLS] on Friday posted a jump in net income due to the absence of any significant costs related to its spin-off as a public company more than a year ago, although sales fell on market softness in both of its operating segments. Net income rose 34 percent to $86 million, 45 cents earnings per share (EPS), from $64 million (34 cents EPS) a year ago. However, excluding various expenses and taxes related to the spin-out of Exelis from…
Exelis Reports Higher Profits As Sales Decline In Fourth Quarter
Defense Daily Staff
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