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L3 Posts Strong Earnings, Looks To Further Cut Costs At Aerospace Systems

L3 Posts Strong Earnings, Looks To Further Cut Costs At Aerospace Systems
Chris Kubasik, chairman, president and CEO of L3 Technologies. Photo: L3

L3 Technologies [LLL] on Thursday posted strong second quarter earnings, driven in part by a gain from a property sale, a lower tax rate, and higher sales and operating income.Net income jumped 34 percent to $202 million, $2.54 earnings per share (EPS), from $151 million ($1.88 EPS) a year ago, bolstered by a $26 million (33 cents EPS) benefit from a property sale related to a consolidation within its Communication Systems segment. Excluding the benefit, per share results still easily…

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