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Ingalls Shipbuilding Helps HII Deliver Strong Second Quarter Earnings

By Cal Biesecker

Thursday, August 7th, 2014

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Ingalls Shipbuilding Helps HII Deliver Strong Second Quarter Earnings

The fourth National Security Cutter, the Hamilton, underway during builder's sea trials. Photo: Huntington Ingalls

Huntington Ingalls Industries [HII] reported strong quarter earnings Thursday on the back of its Ingalls Shipbuilding division, which benefited from improved performance on a Coast Guard program, deliveries of amphibious assault ships for the Navy, and a tax benefit. Net income jumped 75 percent to $100 million, $2.04 earnings per share (EPS), from $57 million ($1.12 EPS) a year ago, driven by the boost from Ingalls and a pension tailwind. Per share results beat consensus estimates by 23 cents and…

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