Exelis reports fourth-quarter and full-year 2014 financial results


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

	Three Months Ended		Twelve Months Ended
	December 30,		December 30,
($ million)	2014	2013	2014	2013
Revenue from Continuing Operations	933	922	3,277	3,341
C4ISR	636	621	2,142	2,136
I&TS	297	301	1,135	1,205

Segment Operating Income from Continuing Operations, As Reported	141	116	397	328
C4ISR	105	86	266	202
I&TS	36	30	131	126

Separation Costs for Vectrus Spin-off and Tax-related special items for the 2011 ITT Spin-off, pre tax	4	6	11	6
C4ISR	2	4	7	4
I&TS	2	2	4	2

Segment Operating Income from Continuing Operations, Adjusted	145	122	408	334
C4ISR	107	90	273	206
I&TS	38	32	135	128

Segment Operating Margin from Continuing Operations, As Reported
C4ISR	16.5%	13.8%	12.4%	9.5%
I&TS	12.1%	10.0%	11.5%	10.5%

Segment Operating Margin from Continuing Operations, Adjusted
C4ISR	16.8%	14.5%	12.7%	9.6%
I&TS	12.8%	10.6%	11.9%	10.6%

Operating Margin from Continuing Operations, As Reported	15.1%	12.6%	12.1%	9.8%
Operating Margin from Continuing Operations, Adjusted	15.5%	13.2%	12.5%	10.0%

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