Exelis reports third-quarter 2012 financial results; maintains

Exelis reports third-quarter 2012 financial results; maintains 2012 full-year outlook


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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
($ million)	2012		2011		2012		2011
Sales	1,361		1,529		4,161		4,359
C4ISR	611		746		1,884		2,114
I&TS	750		786		2,277		2,250
Eliminations	-		(3	)	-		(5	)

Segment Operating Income, As Reported	143		156		426		392
C4ISR	84		107		261		278
I&TS	59		49		165		114

Separation Costs	6		9		22		23
C4ISR	3		6		13		15
I&TS	3		3		9		8

Segment Operating Income, Adjusted	149		165		448		415
C4ISR	87		113		274		293
I&TS	62		52		174		122

Segment Operating Margin, As Reported
C4ISR	13.7	%	14.3	%	13.9	%	13.2	%
I&TS	7.9	%	6.2	%	7.2	%	5.1	%

Segment Operating Margin, Adjusted
C4ISR	14.2	%	15.1	%	14.5	%	13.9	%
I&TS	8.3	%	6.6	%	7.6	%	5.4	%

Operating Margin, As Reported	10.5	%	10.2	%	10.2	%	9.0	%
Operating Margin, Adjusted	10.9	%	10.8	%	10.8	%	9.5	%

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