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Military spending, despite budget deficits and sequestration, remains the largest budget item and is expected to be over $600 billion during the U.S. 2014 fiscal year. ITT Exelis (XLS) is well-positioned to benefit from military spending and specifically spending on new communication and high-technology programs due to its expertise in these areas. Most of us have heard about the $436 hammers and $7,600 coffee makers purchased by the military in the 1980s. Imagine the profit capabilities for buying a secure military communication system where price comparison is much more difficult than when buying a hammer. In addition, the company should continue to benefit from its recent expansion into aircraft components and military base management, a multi-million...

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