Boston, MA 06/16/2014 (wallstreetpr) – Exelis Inc (NYSE:XLS), a $3 billion global provider of command, control and communications solutions for military and commercial customers, has received $12 million in contract from a NATO customer. The deal involves the supply of high-capacity data radios that offer secure data links. The ordered devices can support links between mounted and dismounted field forces and headquarters.
The contract is the latest in a series of high-level business deal that the company is inking in thanks to its renewed efforts to aggressively pursue revenue and bottom line growth this year.
Exelis Inc (NYSE:XLS) also recently landed two subcontracts contracts worth $617 million to help General Dynamics U.K. offer support to the U.K. Ministry of Defense. The subcontracts involve supply and support of tactical radios.
Repairing financial performance
The contracts are coming at a time when Exelis Inc (NYSE:XLS) is under pressure from its shareholders to bring its financial performance to stability. The company’s most recent financial reporting lacked good news. It reported a profit of $0.29 per share on revenue of $1.05 billion in 1Q2014, yet analysts projected a profit of $0.32 per share on revenue of $1.11 billion. The company’s revenue was down almost 12 percent from the same period a year earlier.
Expanding capacity
In addition to attracting more customers, Exelis Inc (NYSE:XLS) also needs to enhance its capacity to align its products and services to the modern needs of the customer. As such, the company recently made a deft move in an apparent effort to support that business thesis. It acquired Celestech, which is a technology and engineering company that provides technical solutions for government and commercial markets. The business is expected to be added to the Electronic System division of Exelis.
According to the president of Exelis Electronic Systems division, Rick Sorelle, the acquisition of Celestech will help the company to enhance its ability in providing fighter forces with the “freedom of action through secure, seamless data sharing.”
Furthermore, the executive expects the acquisition of Celestech to enable Exelis Inc (NYSE:XLS) to increase its capability in responding to customer needs while pursuing growth.
