The forward-looking statements in this release are made as of the date hereof and the company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the company’s historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in the Exelis Inc. Form 10-K for the fiscal year ended December 31, 2013, and those described from time to time in our future reports filed with the Securities and Exchange Commission.

Exelis Inc.
Condensed Consolidated Statements of Operations (unaudited)
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
		Three Months Ended March 31,
		2014			2013
Product revenue		$	480		$	499
Service revenue			565			686
Total revenue			1,045			1,185
Cost of product revenue			354			357
Cost of service revenue			474			577
Selling, general and administrative expenses			113			115
Research and development expenses			10			13
Restructuring and asset impairment charges			5			49
Operating income			89			74
Interest expense, net			9			8
Other (income) expense, net			(2)			2
Income from continuing operations before income tax expense			82			64
Income tax expense			30			20
Net income		$	52		$	44
Earnings Per Share
Basic
Net income		$	0.27		$	0.23
Diluted
Net income		$	0.27		$	0.23
Weighted average common shares outstanding – basic			189.6			188.3
Weighted average common shares outstanding – diluted			194.9			189.8
Cash dividends declared per common share		$	0.10		$	0.10

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »