Exelis Reports 5% Revenue Bump for 1Q, Profit Up 13%

Exelis logoExelis (NYSE: XLS) has announced financial results for the first quarter of its 2015 fiscal year ended March 31, 2015.

The McLean, Va.-based defense technology contractor said revenue increased 4.94 percent year-over-year to $785 million and profit rose 13.46 percent from the prior year period to $59 million.

Revenue for the company’s C4ISR electronics and systems product segment jumped 5.83 percent for the quarter to $508 million, which Exelis attributed to higher sales of environmental sensing satellite payloads and electronic warfare technologies for international customers.

Sales in the information and technical services segment rose 3.36 percent year-over-year to $277 million, which Exelis said was due to activity in civil and aerospace program area contracts.

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