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.
Exelis awarded task order by U.S. Army Contracting Command The U.S. Army Contracting Command has awarded Exelis a task order to deliver a limited quantity of SideHat SRW Applique radios for evaluation. SideHat provides a critical networking capability specifically developed for the vehicular electromagnetic and physical environment experienced on the battlefield. The task order was from an indefinite-delivery, indefinite-quantity contract awarded to the company in April for the specific purpose of providing SRW applique radios.