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Leonardo DRS Reports Strong Operating Results In Third Quarter

Cal Biesecker By
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Leonardo DRS Reports Strong Operating Results In Third Quarter
An artist's rendering of the U.S. Navy's future Columbia-class submarine. (Image: U.S. Navy )

Leonardo DRS [DRS] on Thursday reported strong operating results in its third quarter although net income tumbled due to two earlier divestitures. Net income of $47 million, 18 cents earnings per share (EPS), dove 87 percent from $279 million ($1.33 EPS) a year ago. Excluding the impact from the sale of a business and a stake in a joint venture, adjusted earnings of $53 million (20 cents EPS) were 112 percent higher than the $25 million (12 cents EPS) a…

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