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L-3 Posts Record Quarterly Sales and Earnings

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By Calvin Biesecker L-3 Communications [LLL] yesterday reported record third quarter sales and earnings driven by strong organic growth and the company upped its financial guidance for 2007 on higher than expected sales and a tax benefit. Net income rose 21 percent to $199 million, $1.56 earnings per share (EPS), compared to $164 million ($1.31 EPS) a year ago, helped by a $5 million (4 cents EPS) tax gain. Excluding the tax benefit L-3's earnings beat consensus expectations by four…

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