ITT Exelis announces $100M share repurchase program The Board of Directors for ITT Exelis has authorized a share repurchase program. Under the program the company may repurchase up to $100M of the company's common stock from December 11 through December 31, 2015 with the primary objective to offset dilution from equity awards made by the company. Share repurchase transactions may be made from time to time during the defined time period at the discretion of company management and in accordance with all applicable federal securities laws. The timing of repurchases and the exact number of shares of common stock to be purchased will depend upon market conditions and other factors. This program may be extended, suspended or discontinued at any time without prior notice.
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ITT Exelis awarded $48M follow-on U.S. Army contract ITT Exelis said the U.S. Army has awarded it a $48M contract option for follow-on production of enhanced night vision goggles that allow soldiers to detect and identify potential threats in various environmental conditions during nighttime missions. Exelis expects to complete deliveries to the Army in 2014.
ITT Exelis awarded $9.4M contract from Lockheed Martin ITT Exelis (XLS) announced it received a $9.4M contract from Lockheed Martin Aeronautics (LMT) to supply the Continuous Wave Illuminator subsystem for the F-16 Fighting Falcon. Deliveries will be completed by December 2014.
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