L-3 Communications [LLL] yesterday reported solid second quarter earnings and sales aided in part by some one-time gains and to a lesser extent some acquisitions. Net income increased 48 percent to $278 million, $2.24 earnings per share (EPS), from $188 million ($1.49 EPS). Several items, two gains and a non-cash impairment charge, added $71 million (57 cents EPS) to the results. Excluding the one-time items, earnings were up 9 percent to $207 million ($1.67 EPS). Sales increased 9 percent to…
L-3 Posts Solid Quarter
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