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| Photo: Exelis |
[Avionics Today 11-03-2014] Exelis has reported its lackluster financial results for the third quarter of 2014. Third-quarter revenue was $1.1 billion, a 6 percent decrease from the third quarter of 2013. C4ISR segment revenue increased year-over-year for the second consecutive quarter, however, and the company also announced completion of the spin-off of the former Mission Systems business into Vectrus, a separate, publicly traded government services provider.
Other key announcements from the third quarter include a contract to provide advanced military Air Traffic Management (ATM) capabilities to the Saudi Arabian National Guard, an award from the U.S. Army for Generation 3 night vision equipment and the acquisition of Barco Orthogon, based in Bremen, Germany, which provides applications for Air Traffic Flow Management (ATFM) and decision-making to airport operators and Air Navigation Service Providers (ANSPs) around the world.