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Business/Financial

L-3’s Income, Sales Down On Weakness In Government Spending

Defense Daily Staff

Friday, July 27th, 2012

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L-3 Communications [LLL] yesterday said its second quarter earnings and sales declined as each one of its segment reported lower operating income and only the C3ISR segment boosted sales. L-3 said that United States troop withdrawals in Afghanistan and Iraq combined with government budget pressures drove sales down 6 percent to $3.6 billion from $3.8 billion a year ago. The sales decline includes the recent spin-out of the company’s technical services operations, now called Engility [EGL] Net income tumbled 16…

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