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

Cal Biesecker By
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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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