Exelis Earnings Decline but Exceed Expectations

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McLean, Va.-based defense contractor Exelis shares were mostly unchanged, down only 0.2% Friday, following the release of the company's Q2 earnings results.

Reporting a profit of $0.41 per diluted share, Exelis' earnings were down 11% in comparison with last year's second quarter but nonetheless exceeded analyst estimates. Sales declined 9% in comparison to last year, falling to $1.25 billion. A small decline in operating profit margin, to 10.2%, caused the decline in earnings to exceed the decline in sales.

Looking forward, Exelis guided investors to expect full-year sales in excess of $5 billion but continued declines in operating margin -- 9.4% to 9.8% margins being expected. Earnings are projected to range between $1.45 and $1.55 per share. 

The article Exelis Earnings Decline but Exceed Expectations originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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