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Huntington Ingalls' 2nd-quarter profit up 75 percent
http://hamptonroads.com/2014/08/huntington-ingalls-2ndquarter-profit-75-percentHuntington Ingalls' 2nd-quarter profit up 75 percent
By Robert McCabe
The Virginian-Pilot
© August 8, 2014
NEWPORT NEWS
Huntington Ingalls Industries Inc., the parent of Newport News Shipbuilding, on Thursday reported a second-quarter profit of $100 million, up 75 percent from $57 million in the same quarter last year.
Earnings per share for the nation's largest military shipbuilder were $2.04 for the quarter, up from $1.12 a share a year earlier.
The results beat Wall Street estimates by 23 cents a share. The consensus among 14 analysts surveyed by Thomson Financial Network was $1.81.
After adjusting for pensions, profit for the quarter was $86 million, a nearly 25 percent increase from $69 million in the second quarter of 2013.