- Buyers Guide
Military Microwaves Supplement
ITT Corp. announced a strategic realignment of its defense segment, a move designed to better align the company with the emerging needs of its expanding global customer base, which is increasingly integrated and network-centric. The realignment will enable better integration of its product portfolio, encouraging a more coordinated market approach and reduced operational redundancies.
“We are positioning ITT to support our customers' emerging technology needs, while also greatly enhancing our ability to stake out new markets,” said Steve Loranger, ITT’s Chairman, President and Chief Executive Officer. “We believe this move will also allow ITT to achieve greater operating efficiencies and optimize our cost structure, which will help drive successful business strategies for continued top-line growth.”
The company’s defense segment will be renamed ITT Defense and Information Solutions. Its current organizational structure, comprising seven separate business units, will be consolidated into three larger ones.
The strategic realignment of ITT’s defense segment does not impact the company’s previously announced forecast for full-year 2010 earnings per share in the range of $3.85 to $4.05 per share.
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