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Tax Benefits Lift L-3’s Income In Third Quarter

Cal Biesecker By
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Tax Benefits Lift L-3’s Income In Third Quarter
L-3 Communications Chairman and CEO Michael Strianese. Photo: L-3

L-3 Communications [LLL] on Thursday said it swung to a profit in the third quarter versus a year ago when the company suffered nearly $500 million in charges related to a business segment that it eventually divested.Net income in the quarter was $148 million, $1.88 earnings per share (EPS), versus a loss of $299 million ($3.68 EPS) a year ago, beating analysts’ estimates by six cents per share. L-3 sold its National Security Solutions unit to CACI International [CACI].Excluding the…

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