Electronic Systems
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($ millions) |
Fourth Quarter |
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Full Year |
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FY 2019 |
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FY 2018 |
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Change |
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FY 2019 |
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FY 2018 |
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Change |
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Revenue |
$ |
728 |
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$ |
636 |
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14% |
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$ |
2,583 |
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$ |
2,365 |
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9% |
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Operating income |
$ |
144 |
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$ |
118 |
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22% |
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$ |
499 |
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$ |
432 |
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16% |
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Operating margin |
19.8 |
% |
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18.6 |
% |
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120bps |
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19.3 |
% |
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18.3 |
% |
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100bps |
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Fourth quarter revenue increased 14% from sustained strong growth on long-term platforms – F-35, F/A-18 and F-16, partially offset by the UAE Emirates Land Tactical System program transition timing. Operating income grew 22% to $144 million, and margin expanded 120 bps to 19.8%, driven by higher volume and strong operational performance.