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Business/Financial

L-3 Posts Higher Fourth Quarter Earnings On R&D Tax Credit

By Cal Biesecker

Thursday, January 29th, 2015

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L-3 Communications [LLL] on Thursday reported increased earnings in its fourth quarter due to the reinstatement of the federal research and development (R&D) tax credit for 2014 although its overall operating income was down slightly.Net income rose 10 percent to $203, $2.36 earnings per share (EPS), from $185 million ($2.04) a year ago, topping analysts’ expectations of $2.29 EPS. The per share results also benefited from L-3’s stock repurchase program, which lowered the overall share count.Operating income actually slipped less…

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