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HII [HII] on Thursday reported a steep decline in earnings in its fourth quarter driven by lower performance in construction of attack submarines and new aircraft carriers coupled with non-recurring gains a year ago related a tax recovery and an insurance settlement. Sales also fell across the company’s operating segments, with shipbuilding revenue down on lower volume on amphibious assault ships and aircraft carrier refueling and overhauls, less revenue from contract adjustments on attack submarine and carrier construction, less nuclear…
