[Avionics Today 08-01-2014] Exelis released its second quarter financial results, reflecting an 11 percent drop in revenues from the same period a year ago. The aerospace and defense manufacturer reported $1.1 billion in revenue against $1.3 billion in the second quarter of 2013. Exelis also reported $61 billion in earnings, a 22 percent drop from last year.
Despite dipping revenues, the company’s aerospace division has plenty of projects in the works, including a multimillion-dollar contract award from Airbus to supply composite floor beam struts for the A380 aircraft.