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L3 Reports Solid Sales In Second Quarter; Preparing To Consolidate

Cal Biesecker By
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L3 Reports Solid Sales In Second Quarter; Preparing To Consolidate
Chris Kubasik, chairman, president and CEO of L3 Technologies. Photo: L3

L3 Technologies [LLL] on Thursday reported higher sales in its second quarter driven by organic growth while earnings results were a bit mixed given gains from sales from various business units as well as a debt retirement charge.Net income was $375 million, $4.72 earnings per share (EPS), up 86 percent from $202 million ($2.54 EPS) a year ago. The recent sale of the company’s Vertex, Crestview and TCS business units to a private equity firm contributed $205 million ($2.58 EPS)…

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