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L-3 Posts Slight Sales, Earnings Gains; Lowers Guidance

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By Calvin Biesecker L-3 Communications [LLL] yesterday posted slight increases in its sales and earnings with growth driven by revenues from acquisitions and the higher earnings due to results at the company's Electronic Systems segment. However, L-3 lowered its sales and earnings projections for the year due to the loss of its support contract for the Special Operations Command (SOCOM) to Lockheed Martin [LMT] and charges related to the retirement of debt (Defense Daily, June 23). The company also announced…

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