Exelis Q3 Profit Down, Cuts FY13 Revenue View - Quick Facts

(RTTNews) - Exelis Inc. (XLS) Friday reported a decrease in third-quarter net income, mirroring lower revenues.

For the three-month period, the company reported net income of $80 million or $0.41 per share, compared with $88 million or $0.47 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to report earnings per share of $0.41 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues were $1.14 billion, down from prior year's $1.36 billion. Analysts expected the company to generate revenues of $1.25 billion for the quarter.

For the full-year 2013, the company cut its revenue guidance range to $4.9 billion to $5 billion from its previous expectations of $5 billion to $5.1 billion. On a per share basis, the company still expects earnings to be in the range between $1.45 to $1.55 per share. Analysts expect the company to report revenues of $5.01 billion and earnings of $1.51 per share for the year.