Exelis Reports Solid Second-Quarter 2012 Financial Results;

Exelis Reports Solid Second-Quarter 2012 Financial Results; Maintains 2012 Full-Year Outlook


Exelis Inc.
Reported v. Adjusted Segment Operating Income and Operating Margin

	Three Months Ended June 30,				Six Months Ended June 30,
($ million)	2012		2011		2012		2011
Sales	1,379		1,485		2,800		2,829
C4ISR	620		683		1,273		1,368
I&TS	759		811		1,527		1,474
Eliminations	-		(9	)	-		(13	)

Segment Operating Income, As Reported	145		121		283		235
C4ISR	86		92		177		171
I&TS	59		29		106		64

Separation Costs	3		11		16		14
C4ISR	2		7		10		9
I&TS	1		4		6		5

Segment Operating Income, Adjusted	148		132		299		249
C4ISR	88		99		187		180
I&TS	60		33		112		69

Segment Operating Margin, As Reported
C4ISR	13.9	%	13.5	%	13.9	%	12.5	%
I&TS	7.8	%	3.6	%	6.9	%	4.3	%

Segment Operating Margin, Adjusted
C4ISR	14.2	%	14.5	%	14.7	%	13.2	%
I&TS	7.9	%	4.1	%	7.3	%	4.7	%

Operating Margin, As Reported	10.5	%	8.1	%	10.1	%	8.3	%
Operating Margin, Adjusted	10.7	%	8.9	%	10.7	%	8.8	%

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