* Second quarter EPS $1 a share vs estimate 69 cents
* Operating margin improved at Ingalls unit
Aug 8 Huntington Ingalls Industries Inc
posted a higher-than-expected profit on Wednesday, aided by
higher sales of amphibious assault ships, aircraft carriers and
The shipbuilder had second-quarter net earnings of $50
million, or $1.00 a share, up from $40 million, or 80 cents a
share, a year earlier.
Analysts had expected profit of 69 cents a share, according
to Thomson Reuters I/B/E/S.
Revenue rose 10 percent to $1.72 billion. Revenue at the
company's Ingalls and Newport News divisions rose 6.8 percent
and 12.3 percent, respectively.
Huntington Ingalls, which was spun off from defense
contractor Northrop Grumman Corp last year, has been
focused on cutting costs and improving operations, especially at
its U.S. Gulf Coast shipyards, as it works its way through
unfavorable contracts that will fall off in 2013.
Operating margin improved to 5 percent at the Ingalls unit
from 2.7 percent a year earlier, while Newport News's operating
margin was flat at 9.1 percent in the quarter.