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L-3 Tumbles To Loss On Charges; Looking To Divest More Businesses

Cal Biesecker By
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L-3 Communications [LLL] on Thursday reported a hefty loss in its third quarter due mainly to a charge related to a reduction in the estimated value of a business segment that it is trying to sell and the company also said it has also begun a strategic review for its other service and hardware businesses that have low returns.The $491 million charge, $5.79 cents earnings per share (EPS), was due to a decline in expected future cash flows at L-3’s…

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