Huntington Ingalls Industries [HII] yesterday posted a rise in net income in the fourth quarter due to a favorable $10 million adjustment to goodwill impairment charge taken in the third quarter that was originally $300 million but was revised to $290 million. Net income increased 10 percent to $69 million, $1.39 earnings per share (EPS), from $63 million ($1.29 EPS). Excluding the impact of the goodwill adjustment, income fell 6 percent to $59 million ($1.19 EPS) though still whipping analysts’…
HII’s Earnings Rise In Fourth Quarter On Adjusted Goodwill As Sales Flatten
Defense Daily Staff
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