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L-3 Posts Higher Earnings And Sales

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L-3 Communications [LLL] yesterday reported higher fourth quarter net income and sales, driven by a lower tax rate, improved margins and revenue from acquisitions. Net income increased 18 percent to $268 million, $2.37 earnings per share (EPS), from $227 million ($1.93 EPS), aided by a nearly 6 percent drop in the tax rate. Operating margins improved 20 basis points to 10.8 percent. Pre-tax operating income increased 3 percent to $461 million from $446 million due to the margin improvement. Sales…

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