More on Exelis' Q2

|About: Exelis Inc. (XLS)|By:, SA News Editor

Net income for Q2 of $61M ($0.32 per share) decreased 22% Y/Y from $78M ($0.41 per share) in second quarter of 2013.

Segment revenue: C4ISR Electronics and Systems +1%; Information and Technical Services -19%.

Free cash flow of $174M.

The company returned $49M to shareholders via dividends and share buybacks.

Updated FY 2014 guidance: Sales $4.45B; Adjusted operating margin 10.5%; Adjusted EPS $1.44-$1.50; Free Cash Flow $200M.

Q2 results

This was corrected on 08/01/2014 at 11:18 AM. Sales guidance was originally incorrectly stated as $2.45B.