Aerospace and Defense
Company Overview of Exelis Inc.
Exelis Inc. provides command, control, communications, computers, intelligence, and surveillance and reconnaissance (C4ISR) related products and systems in the United States and internationally. The company’s C4ISR Electronics and Systems segment offers intelligence, surveillance, and reconnaissance systems; integrated electronic warfare systems; electronic attack and release systems, including aircraft-armament suspension and release equipment, weapons interface systems, and surveillance aircraft and unmanned aerial vehicles. This segment also provides radio frequency and acoustic surveillance sensors, integrated radar and precision air traffic control surveillance systems, electronic warfa...
1650 Tysons Boulevard
McLean, VA 22102
Founded in 2011
Key Executives for Exelis Inc.
Chief Executive Officer
Total Annual Compensation: $930.0K
Chief Financial Officer and Senior Vice President
Total Annual Compensation: $470.0K
Executive Vice President and President of Geospatial Systems
Total Annual Compensation: $380.1K
Chief Legal Officer
Total Annual Compensation: $396.5K
Compensation as of Fiscal Year 2012.
Exelis Inc. Key Developments
Spirit Airlines Selects Exelis Aircraft Surveillance Solution for Fleet Tracking
Mar 3 14
Spirit Airlines has selected the Exelis Inc. aircraft surveillance solution, known as Symphony(R) OpsVue(TM), to visually track its aircraft fleet while on the ground. This solution provides a highly accurate and reliable flight tracking network of aircraft surveillance data on a single Web-based display. Spirit Airlines' aircraft fleet is currently fully equipped with Automatic Dependent Surveillance-Broadcast (ADS-B) transponders. ADS-B equipage enables operations personnel to receive aircraft position reports every 5 seconds in the terminal airspace area. The Federal Aviation Administration (FAA) has issued a final rule to require installation of ADS-B "Out" equipment by 2020.
Exelis Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the Full Year 2014
Feb 28 14
Exelis reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company's revenue was $1.2 billion, a 9% decrease from the fourth quarter of 2012. Earnings were $0.41 per diluted share, a 9% decrease from $0.45 per diluted share for the fourth quarter of 2012. Adjusted earnings, which exclude costs related to the pending spin-off of Exelis Mission Systems and a tax-related item related to the 2011 spin-off from ITT Corporation, were $0.44 per diluted share for the fourth quarter, a 6% decrease from $0.47 per dilutes share for the same period in 2012. Net income was $79 million against $86 million a year ago. Adjusted net income was $86 million against $90 million a year ago. Cash flow from operating activities was $192 million and capital expenditures were $21 million.
For the full-year 2013, the company reported revenue of $4.8 billion, a 13% decline from $5.5 billion for 2012, and earnings of $1.46 per diluted share, a 17% decrease compared to $1.75 per diluted share for 2012. Adjusted earnings were $1.50 per diluted share, down 19% from $1.85 per dilutes share for 2012. Net income was $281 million against $330 million a year ago. Adjusted net income was $288 million against $349 million a year ago. Earnings and adjusted earnings for the full year were driven by lower sales volumes and increased restructuring expenses of $83 million, partially offset by increased profitability in the Information & Technical Services segment. Cash flow from operating activities was $310 million against $385 million a year ago. Capital expenditures were $78 million against $119 million a year ago. Operating income was $476 million against $561 million a year ago. Income from continuing operations before income tax expense was $437 million against $521 million a year ago. Revenue for 2013 came in short of projections, primarily due to continued contraction in the Middle East and Afghanistan programs. The full year results also reflect lower volumes in ground electronic warfare and legacy night vision products. Free cash flow for the year came in at $234 million after payments of $200 million to the pensions.
The company provided earnings guidance for the full year 2014. For the period, the company expects sales of approximately $4.6 billion, adjusted operating margin of approximately 11% and adjusted earnings per share of $1.52 to $1.59. The company anticipates generating free cash flow of approximately $250 million after making pension contributions in the range of $185 million to $200 million. Tax rate be comparable to that in 2013, 35% to 36% range. The company expects the share count of about $194 million. The company projects improving profitability in the second half due to lower restructuring charges and favorable sales mix.
Buildings Of Exelis Are Up For Sale
Feb 28 14
The buildings of Exelis Inc. (NYSE:XLS) are up for sale. Kristin Jones, Communications Manager for Exelis' Geospatial Division said that the issue is simply one of a property for sale. The communications division owns the property at 1919 W. Cook, so it is putting it up for sale.
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