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L-3 Posts Higher Sales, Earnings In Third Quarter

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By Calvin Biesecker L-3 Communications [LLL] yesterday reported solid third quarter financial results increasing both sales and earnings due to a tax benefit and a strong contribution from its C3ISR segment. Net income increased 22 percent to $250 million, $2.12 earnings per share (EPS), from $210 million ($1.70 EPS) a year ago, topping consensus estimates by 27 cents. The tax benefit added 22 cents EPS to net income. Free cash flow was $405 million. Operating income was driven by the…

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