Huntington Ingalls Industries, Inc. Q4 Profit Decreases, misses estimates

(RTTNews) - Huntington Ingalls Industries, Inc. (HII) reported a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $120 million, or $2.99 per share. This compares with $249 million, or $6.15 per share, in last year's fourth quarter.

Excluding items, Huntington Ingalls Industries, Inc. reported adjusted earnings of $114 million or $2.84 per share for the period.

Analysts on average had expected the company to earn $2.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.9% to $2.68 billion from $2.76 billion last year.

Huntington Ingalls Industries, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $120 Mln. vs. $249 Mln. last year. -EPS (Q4): $2.99 vs. $6.15 last year. -Analyst Estimates: $2.97 -Revenue (Q4): $2.68 Bln vs. $2.76 Bln last year.