Exelis reports third-quarter 2014 financial results; revises full-year guidance
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Exelis Inc.
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Non-GAAP Financial Measures - Adjusted Net Income & Adjusted EPS
Excluding Vectrus Results
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Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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($ million, except per share)
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2014
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2013
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2014
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2013
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Reported Net Income
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52
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80
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165
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202
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Subtract: Estimated Net Income, Vectrus Operations
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2
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24
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22
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84
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Estimated Net Income, Stand-alone Exelis
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50
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56
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143
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118
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Separation costs for the Vectrus spin-off, net of tax
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9
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-
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19
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-
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Subtract: Separation costs, Vectrus Operations
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8
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-
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15
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-
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Separation costs, Stand-alone Exelis
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1
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-
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4
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-
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Adjusted Net Income
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61
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80
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184
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202
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Subtract: Estimated Adjusted Net Income, Vectrus Operations
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10
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24
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37
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84
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Estimated Adjusted Net Income, Stand-alone Exelis
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51
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56
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147
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118
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Net Income per fully diluted share
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0.27
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0.41
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0.85
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1.06
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Subtract: Estimated Net Income per fully diluted share, Vectrus
Operations
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0.01
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0.13
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0.11
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0.44
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Estimated Net Income per fully diluted share, Stand-alone Exelis
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0.26
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0.29
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0.74
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0.62
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Adjusted Net Income per fully diluted share
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0.32
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0.41
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0.95
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1.06
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Subtract: Estimated Adjusted net Income per fully diluted share,
Vectrus Operations
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0.06
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0.13
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0.19
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0.44
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Estimated Adjusted Net Income per fully diluted share, Stand-alone
Exelis
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0.26
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0.29
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0.76
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0.62
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Weighted Average Shares Outstanding, Diluted
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193.2
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192.8
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193.9
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191
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