MULTIMEDIA RELEASE — NEWPORT NEWS SHIPBUILDING OPENS NEW SUBMARINE FACILITY
Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding (NNS) division opened a new, 65,000-square-foot facility, called the Supplemental Module Outfitting Facility (SMOF), to facilitate the Virginia Class Submarine (VCS) Program's two-submarines-per-year build plan.
NEWPORT NEWS SHIPBUILDING BRINGS BENEFITS OF STEM TO LIFE FOR AREA STUDENTS
Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding (NNS) division hosted 50 students and faculty from area high schools as part of Heritage High School's Engineering and Technology Magnet Program Seniors Internship and Newport News Public Schools' "Spring Break: Make It Work" job shadowing program. Both programs focus on the benefits of science, technology, engineering and math (STEM) in the workplace.
INGALLS SHIPBUILDING AWARDED $76 MILLION ADVANCE PROCUREMENT CONTRACT FOR SIXTH NSC
Huntington Ingalls Industries (NYSE:HII) announced today that its Ingalls Shipbuilding division has received a $76 million fixed-price contract from the U.S. Coast Guard to purchase long-lead materials for a sixth National Security Cutter (NSC). Construction and delivery of the yet-to-be-named WMSL 755 will be performed at the company's Pascagoula facility. A second phase of the contract, when awarded, would bring the overall value to $88 million.
HUNTINGTON INGALLS INDUSTRIES REPORTS STRONG FOURTH QUARTER AND 2011 RESULTS; ON TRACK TO DELIVER LONG-TERM PERFORMANCE TARGETS
Huntington Ingalls Industries (NYSE:HII - News) reported fourth quarter 2011 sales of $1.74 billion, consistent with the fourth quarter of 2010. The impact of a $10 million non-cash goodwill impairment finalization adjustment resulted in reported net earnings of $69 million for the quarter and $1.39 diluted earnings per share on a GAAP basis. Excluding the goodwill impairment adjustment in the fourth quarter, total operating margin was 6.6 percent, up from 6.0 percent for the same period last year, and diluted earnings per share was $1.19 for the quarter.