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Business/Financial

Navy Ship Work, Acquisition Lead HII To Strong Third Quarter Results

By Cal Biesecker

Wednesday, November 8th, 2017

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Navy Ship Work, Acquisition Lead HII To Strong Third Quarter Results

Huntington Ingalls President and CEO Mike Petters. Photo: HII

Huntington Ingalls Industries [HII] on Wednesday posted strong financial results in its third quarter driven by work on aircraft carriers and amphibious assault ships for the Navy and the acquisition last year of a technical services company.Net income jumped 39 percent to $149 million, $3.27 earnings per share (EPS), from $107 million ($2.27 EPS) a year ago, beating analysts’ estimates by 48 cents per share. Operating margins were 12.7 percent versus 10.4 percent a year ago.Earnings were strong due to…

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