HII, Huntington Ingalls Industries, Inc.

** HII reported that its Ingalls Shipbuilding division has received a $482.8 million fixed-price-incentive-firm contract from the U.S. Coast Guard for the construction of a fifth National Security Cutter.

HII has delivered the first three NSCs, which are the flagship of the Coast Guard's cutter fleet, designed to replace the 378-foot Hamilton-class High-Endurance Cutters, which entered service during the 1960s.

The Legend-class National Security Cutter is the largest and most technologically advanced class of cutter in the U.S. Coast Guard, with robust capabilities for maritime homeland security, law enforcement, marine safety, environmental protection and national defense missions.

This class of cutters plays an important role in enhancing the Coast Guard's operational readiness, capacity and effectiveness at a time when the demand for their services has never been greater.

On its second quarter 2011 results, HII recently posted sales of $1.56 billion with operating margin of 5.8 percent, up from negative 1.2 percent last year. HII's second quarter diluted earnings per share was $0.80, up from a loss of $0.23 in 2010. Cash provided by operating activities in the second quarter of 2011 was $186 million, up $91 million, or 96 percent, over the same period last year. New business awards for the 2011 second quarter were approximately $1.0 billion, bringing total backlog to $16.8 billion as of June 30.

HII designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder.

More about HII at www.huntingtoningalls.com

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