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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Exelis receives $8M order for night vision equipment from U.S. Army Exelis has been awarded a contract valued at $8M to provide the U.S. Army with Generation 3 night vision equipment. The award is under the U.S. Army-managed OMNI VIII indefinite-delivery, indefinite-quantity contract awarded to Exelis in 2011. Delivery for this latest order is scheduled to take place during late 2014 and early 2015.