Revenue at Huntington Ingalls Industries (HII) rose 9.7% to USD2.4 billion in the fourth quarter of 2019, while operating income fell 12.7% to USD186 million, the US shipbuilder announced on 13 February.
While all three of HII’s divisions reported revenue gains in the fourth quarter, only one increased its operating income. Newport News Shipbuilding’s operating income jumped 133.3% to USD133 million, mainly due to a contract award to build Block V Virginia -class attack submarines and contract changes to support Los Angeles -class attack submarines.
Ingalls Shipbuilding’s operating income plunged 29.8% to USD59 million, partly due to “lower risk retirement” for LHA large-deck amphibious assault ships and LPD amphibious transport docks, HII said.
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