
Lower taxes, the gift that just keeps giving this year for corporations, combined with a pension benefit, propelled Huntington Ingalls Industries [HII] to a hefty increase in earnings despite a dip in operating profit at the segment level.Net income soared 63 percent to $239 million, $5.40 earnings per share (EPS), from $147 million ($3.21 EPS) a year ago, with a lower tax rate, which was lower than expected due to a claim for prior year research and development tax credits,…