Exelis reports fourth-quarter and full-year 2013 financial

Exelis reports fourth-quarter and full-year 2013 financial results; provides financial guidance for 2014


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

	Three Months Ended				Twelve Months Ended
	December 31,				December 31,
($ million)	2013		2012		2013		2012
Sales	1,239		1,361		4,816		5,522
C4ISR	621		603		2,136		2,487
I&TS	618		758		2,680		3,035

Segment Operating Income, As Reported	142		135		476		561
C4ISR	90		89		218		350
I&TS	52		46		258		211

Separation Costs & Other Special Items	8		7		8		29
C4ISR	4		4		4		16
I&TS	4		3		4		13

Segment Operating Income, Adjusted	150		142		484		590
C4ISR	94		93		222		366
I&TS	56		49		262		224

Segment Operating Margin, As Reported
C4ISR	14.5	%	14.8	%	10.2	%	14.1	%
I&TS	8.4	%	6.1	%	9.6	%	7.0	%

Segment Operating Margin, Adjusted
C4ISR	15.1	%	15.4	%	10.4	%	14.7	%
I&TS	9.1	%	6.5	%	9.8	%	7.4	%

Operating Margin, As Reported	11.5	%	9.9	%	9.9	%	10.2	%
Operating Margin, Adjusted	12.1	%	10.4	%	10.0	%	10.7	%

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