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Business/Financial

Huntington Ingalls Finishes 2014 With Strong Fourth Quarter

By Cal Biesecker

Thursday, February 27th, 2014

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Huntington Ingalls Finishes 2014 With Strong Fourth Quarter

Huntington Ingalls President and CEO Mike Petters. Photo: HII

Driven by strong results at its Ingalls Shipbuilding division and steady performance at Newport News Shipbuilding, Huntington Ingalls Industries [HII] on Thursday posted higher sales and earnings in its fourth quarter. Net income jumped 82 percent to $91 million, $1.82 earnings per share (EPS) from $50 million (98 cents EPS) a year ago, buoyed by a favorable revised estimate for insurance recoveries, deferred state taxes, a pension adjustment and improved operating results. Excluding the insurance recoveries and pension adjustment, adjusted…

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