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L3Harris Technologies [LHX] last Thursday posted a steep decline in net income due to ongoing efficiency efforts combined with one-time costs related to an acquisition last year, although sales were up on the same acquisition and solid organic growth. The efficiency initiative, dubbed LHX NeXT, ran up $127 million in implementation costs versus $13 million a year ago, and amortization costs associated with the acquisition of Aerojet Rocketdyne last July were $52 million higher. A large chunk of the LHX…
