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Quarterly earnings declined 4.7% on a year-over-year basis. Revenues in the second quarter came in at $1.7 billion. The top line missed the Zacks Consensus Estimate of $1.76 billion and declined from the year-ago figure. Cost of product sales and services in the reported quarter was $1,138 million compared with $1,203 million in the prior-year quarter. Engineering, selling & administrative expenses totaled $276 million in the quarter under review as against $217 million in the second quarter of fiscal 2016. Segmental Performance Revenues at the Communication Systems segment came in at $413 million in the quarter, down 16%. Segmental operating income declined significantly to $121 million due to lower volumes. Revenues at the Space and Intelligence Systems unit were $468 million, up 5%.

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