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L3 Swings To Profit In Fourth Quarter, Lifts Guidance For 2017

Cal Biesecker By
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L3 Swings To Profit In Fourth Quarter, Lifts Guidance For 2017
L-3 Communications Chairman and CEO Michael Strianese. Photo: L-3

L3 Technologies [LLL] on Thursday said it swung to a profit and increased sales in its fourth quarter on the back of its Electronic Systems segment, which benefited from gains across the portfolio.The company also raised earnings and sales guidance in 2017 to account for the recent acquisition of Implant Sciences, additional sales of broadcast communications systems for the Defense Department, and lower pension expense.Net income in the quarter was $188 million, $2.38 earnings per share (EPS), versus a loss…

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