Feb. 27, 2015, 7:27 AM
- Adjusted net income of $90M, or $0.47 per diluted share vs. $66M or $0.34 per diluted share in the same quarter a year ago.
- Revenue by segment: C4ISR Electronics and Systems +2%; Information and Technical Services -1%.
- "We delivered results in line with full-year expectations in 2014, increased our international sales...all while successfully executing the spin-off of Vectrus," said CEO David Melcher.
- Q4 results
- XLS +2.2% premarket
Feb. 6, 2015, 12:45 PM
Feb. 6, 2015, 9:13 AM
- Exelis (NYSE:XLS) is up 36% premarket after Harris agreed to purchase the company in a cash-and-stock deal valued at $4.75B; Harris (NYSE:HRS) is up 8%.
- Exelis, which makes military communications equipment, spun off from ITT (NYSE:ITT) in 2011.
- Previously: Harris to acquire Exelis for $4.75B (Feb. 06 2015)
Feb. 6, 2015, 9:12 AM
Oct. 31, 2014, 7:26 AM
- Adjusted net income of $61M, or $0.32 per diluted share vs. $80M or $0.41 per diluted share in the same quarter a year ago.
- Revenue by segment: C4ISR Electronics and Systems +1%; Information and Technical Services -12%.
- The company adjusted its 2014 financial guidance to account for the spin-off of Vectrus, and now expects total sales to be H$3.25B.
- Q3 results
- XLS +0.8% premarket
Nov. 4, 2013, 10:57 AM
- Exelis (XLS +2.1%) has its price target hiked to $18 from $17 at Jefferies.
- "Q3 book-to-bill of 1.7x and productivity improvements should drive revenue and profitability growth in Q4," analyst Howard Rubel says.
- Nevertheless, Rubel cuts his Q4 and FY13 EPS estimates to $0.44 from $0.49 (consensus is $0.46) and to $1.50 from $1.55 (consensus is $1.50), respectively.
- On the Q3 CC, Rubel asks management about an increase in the amount of restructuring expenses included in FY13 guidance (now $85M versus $70-80M previous): "Can you elaborate a little bit on why you've increased the amount?," Rubel asks. "We changed the pension in the middle of the year, that gave us a little bit of a tailwind [so] you could sort of say we used some of that upside to accelerate some restructuring," CFO Peter Milligan responds, adding that the move should benefit results in 2014. (transcript)
Aug. 23, 2013, 12:23 PM
Jul. 1, 2013, 3:28 PM
ITT Exelis (XLS +2.5%) trades up today after saying it's been selected by Raytheon Company (RTN) to supply antenna subsystems for the DoD's international ballistic defense system. The antennas will be fielded as part of the Standard Missile-3 program, a cooperative development program between the U.S. Department of Defense and the Ministry of Defense of Japan, scheduled to be deployed in 2018.| Jul. 1, 2013, 3:28 PM
Jun. 27, 2013, 11:31 AM
Exelis (XLS +2.2%) has received a $3.2M contract from Ball's (BLL) Aerospace & Technologies subsidiary to design an advanced receiver chain for the U.S. Air Force Weather Satellite Follow-on program. The new design will improve measurements of ocean surface winds, which is used for severe weather forecasting.| Jun. 27, 2013, 11:31 AM
Feb. 5, 2013, 5:48 PM
Apr. 2, 2012, 1:22 PM
Mar. 2, 2012, 1:21 PMITT Exelis (XLS +4.5%) moves up after posting a mixed Q4 result that missed slightly on a per share basis but beat on revenue. Net earnings were higher, with stronger-than-anticipated top-line performance, driven largely its Information and Technical Services segment. The company also raises its guidance for 2012, now expecting sales of $5.4B - $5.5B and an EPS of $1.80 - $1.86. | Mar. 2, 2012, 1:21 PM