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HII’s Income Falls Despite Higher Sales

Cal Biesecker By
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HII’s Income Falls Despite Higher Sales
Chris Kastner, president and CEO of HII. (Photo: HII)

HII [HII] on Thursday reported lower third quarter earnings due to higher taxes and negative impacts from equity investments while sales were up mainly due to an acquisition a year ago and top-line gains in its nuclear shipbuilding segment. Net income fell 6 percent to $138 million, $3.44 earnings per share (EPS), from $147 million ($3.65 EPS) a year ago, edging consensus estimates by two pennies a share. Sales increased 12 percent to $2.6 billion from $2.3 billion a year…

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