HUNTINGTON INGALLS INDUSTRIES REPORTS FOURTH QUARTER AND 2012 RESULTS; POSTS STRONG YEAR-OVER-YEAR IMPROVEMENT IN SEGMENT PERFORMANCE
Huntington Ingalls Industries (NYSE:HII) reported fourth quarter 2012 revenues of $1.82 billion, up 5.1 percent from the same period last year. Segment operating income for the fourth quarter was $140 million, compared to $127 million in the same period last year. Total operating income for the fourth quarter was $106 million, compared to $121 million in the same period last year. Pension-adjusted total operating income for the fourth quarter was $131 million, or 7.2 percent of revenue, compared to $118 million, or 6.8 percent of revenue in the comparable period of 2011, which excludes the $10 millionnon-cash goodwill impairment finalization adjustment. The increase was primarily attributable to improved segment operating performance at Ingalls.