Benefiting from better margins, tax benefits and a decline in interest expense, L-3 Communications [LLL] yesterday reported higher net income in the third quarter although sales fell across each of the company’s segments. Net income increased 6 percent to $204 million, $2.23 earnings per share (EPS), from $193 million ($1.98 EPS) a year ago, well above analysts’ expectations of $1.95 EPS. Per share earnings rose nearly 13 percent as L-3’s stock repurchase program lowered the number of outstanding shares. L-3's…
L-3 Boosts Earnings As Sales Slide
Defense Daily Staff
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