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HII Reports Lower Earnings, Higher Sales In First Quarter

Cal Biesecker By
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HII Reports Lower Earnings, Higher Sales In First Quarter
Chris Kastner, president and CEO of HII. (Photo: HII)

HII [HII] on Thursday posted lower net income in the first quarter due to lower risk retirements at its shipbuilding segments while the company’s sales were higher due to an acquisition last year. Net income dipped 5 percent to $140 million, $3.50 earnings per share (EPS), from $148 million ($3.68 EPS) a year ago, but still topped consensus estimates by 28 cents per share. Sales increased 13 percent to $2.6 billion from $2.3 billion a year ago, driven by the…

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