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Exelis Reports 1% 4Q Revenue Bump, $3B in FY 2014 Contract Awards

Exelis logoExelis (NYSE: XLS) has announced financial results for the fourth quarter and its full 2014 fiscal year ended Dec. 31, 2014.

Exelis said the results reflect the September 2014 spinoff of its former mission systems business into the company now known as Vectrus.

The McLean, Va.-based defense technology maker said its revenue for the quarter increased 1 percent over the prior year period to $933 million and quarterly profit rose 42.6 percent year-over-year to $87 million.

Revenue from international customers for the full 2014 fiscal year grew 11 percent from 2014 figures and the company also reported $3.3 billion in orders for the year.

For the C4ISR electronics and systems area, revenue for the fourth quarter increased 2 percent from the prior year period to $636 million and remained level at $2.1 billion for the year.

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