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L-3 Announces New $1.5 Billion Share Repurchase Program

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L-3 Communications [LLL] yesterday said its board of directors has authorized a new $1.5 billion share repurchase program in effect through April 30, 2013. The share repurchase program is in effect immediately. It represents the company's fifth share repurchase program. "This authorization reflects our strong financial position and confidence in L-3's future," Michael Strianese, L-3's chairman, president and CEO, said in a statement. "Share repurchases are a central element of our disciplined capital deployment strategy and reflect our ongoing commitment…

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