Exelis Q4 Results Miss View - Quick Facts

(RTTNews) - Exelis (XLS), an aerospace, defense, information and services company, Friday said fourth-quarter net income declined to $79 million from $86 million in the prior year. Earnings per share dropped to $0.41 from $0.45.

Adjusted earnings per share were $0.44 while it totaled $0.47 last year. On average, 7 analysts polled by Thomson Reuters expected earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

The latest adjusted results exclude costs related to the pending spin-off of Exelis Mission Systems and a tax-related item related to the 2011 spin-off from ITT Corp.

Sales for the quarter dropped to $1.239 billion from $1.361 billion in the prior year. Wall Street expected revenues of $1.34 billion.

For 2014, the company expects adjusted earnings in the range of $1.52 - $1.59 per share and sale sof $4.6 billion.

Analysts expect earnings of $1.58 per share and revenues of $4.75 billion for the year.