Exelis Reports 7% Jump in 2Q Orders

ITT Exelis (NYSE: XLS) has announced financial results for the second quarter of its 2012 fiscal year, reporting a nine percent increase in profit from the prior year period to $86 million.

The company also announced a 10 percent increase in earnings per share year-over-year, reporting 46 cents in earnings for the quarter.

Exelis received $1.2 billion in new orders during the quarter, seven percent more than the prior year period, including $300 million in contract awards for electronic warfare equipment from U.S. and international customers.

In April, the company announced it won a $238 million contract to produce on-board jammer systems for the U.S. Navy’s F-18 fleet, used to protect against radio frequency-guided threats.

Citing efforts to diversify outside of the U.S. federal market, the company reported sales of airport management technology to customers including the Metropolitan Washington Airports Authority.

Dulles International Airport uses Symphony, a cloud computing-based program, to calculate taxi times for all flights and send alerts when those times are exceeded.

During the second quarter, the company acquired California-based signal processing system maker Space Computer Corp. and integrated SCC into the C4ISR electronics and systems business.

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