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Huntington Ingalls Industries [HII] on Thursday posted a steep drop in net income in the fourth quarter due in part to price drops in the oil and gas market, which impaired results at a new business acquired last spring that provides engineering and project management services to domestic and international energy markets.Net income tumbled 43 percent to $52 million, $1.05 earnings per share (EPS), from $91 million ($1.82 EPS) a year ago, hampered by the $47 million (75 cents EPS)…
