Exelis reports third-quarter 2014 financial results; revises

Exelis reports third-quarter 2014 financial results; revises full-year guidance


Exelis Inc.
Non-GAAP Financial Measures - Adjusted Segment Operating Income & Operating Margin

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
($ million)	2014	2013	2014	2013
Sales	1,068	1,141	3,230	3,577
C4ISR	503	498	1,506	1,515
I&TS	565	643	1,724	2,062

Segment Operating Income, As Reported	96	133	288	334
C4ISR	59	69	162	128
I&TS	37	64	126	206

Separation Costs for the Vectrus Spin-off, pre tax	15	-	30	-
C4ISR	5	-	13	-
I&TS	10	-	17	-

Segment Operating Income, Adjusted	111	133	318	334
C4ISR	64	69	175	128
I&TS	47	64	143	206

Segment Operating Margin, As Reported
C4ISR	11.7%	13.9%	10.8%	8.4%
I&TS	6.5%	10.0%	7.3%	10.0%

Segment Operating Margin, Adjusted
C4ISR	12.7%	13.9%	11.6%	8.4%
I&TS	8.3%	10.0%	8.3%	10.0%

Operating Margin, As Reported	9.0%	11.7%	8.9%	9.3%
Operating Margin, Adjusted	10.4%	11.7%	9.8%	9.3%

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