NEWPORT NEWS
Huntington Ingalls Industries Inc., the parent company of Newport News Shipbuilding, reported first-quarter 2012 profit of $33 million on Wednesday, down 26.7 percent from $45 million in the same quarter a year earlier.
Earnings-per-share were 67 cents for the quarter, down from 92 cents in the same quarter of 2011.
Quarterly earnings-per-share missed Wall Street estimates.

NEWPORT NEWS
Huntington Ingalls Industries Inc. on Thursday reported a third-quarter 2011 loss of $248 million, after charging off $300 million of goodwill related to its Ingalls Shipbuilding division in Mississippi.

NEWPORT NEWS About six weeks after it was spun off by Northrop Grumman Corp., shipbuilder Huntington Ingalls Industries Inc. announced Wednesday that its profit for the first quarter of 2011 rose 9.8 percent. The Newport News-based company earned $45 million, or 92 cents a share, for the quarter ended March 31, up from $41 million, or 85 cents a share, in the first three months of 2010.

NEWPORT NEWS The nation's largest military shipbuilder is preparing to christen a tugboat being named in honor of a Virginia captain.

The Capt. Ambrose will be christened by Huntington Ingalls Industries at a ceremony in Newport News on Wednesday.

NEWPORT NEWS Shares of Huntington Ingalls Industries Inc. surged in their first day of trading on the New York Stock Exchange, closing Thursday at $41.50 after opening at $38.45 a share. A contingent of executives from the Navy shipbuilder made the pilgrimage to Wall Street to visit the exchange's trading floor.

NEWPORT NEWS Newport News Shipbuilding is expected to be independent again, effective today. A little more than eight months after Northrop Grumman Corp. said it wanted to get out of the shipbuilding business, it should be a done deal.

Huntington Ingalls Industries Inc. - that's the moniker Northrop Grumman Corp. gives the possible spinoff of its shipbuilding business in a preliminary filing Wednesday with the Securities and Exchange Commission.