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L-3 Posts Declines To Top And Bottom Lines

Cal Biesecker By
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Hampered by a tight fiscal environment in the federal government market, L-3 Communications [LLL] on Thursday posted lower net income and sales in its fourth quarter although earnings still managed to easily beat consensus expectations. Sales fell 9 percent to $3.3 billion from $3.6 billion a year ago as each of its segments reported lower revenue on less business with the Defense Department. All the segments also posted lower operating income. The company said that international and commercial sales were…

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