Comment on Exelis 4Q net income rises 34 pct, beats estimates

Exelis 4Q net income rises 34 pct, beats estimates

CLIFTON, N.J. (AP) — Exelis Inc., the former defense unit of manufacturer ITT Corp., said Friday that its fourth-quarter net income jumped 34 percent, as cost cuts and better efficiency offset a drop in revenue. The results beat Wall Street expectations, and its shares rose more than 5 percent in midday trading. Exelis said that while it's aware that 2013 will be a tough year for the defense industry, it's proactively restructuring its operations, boosting efficiency and looking for new commercial and international customers to help offset the uncertainty. Exelis earned $86 million, or 45 cents per share, up from $64 million, or 34 cents per share, in the same quarter last year.Read more on NewsOK.com

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News