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L3’s Earnings Fall But Handily Beat Estimates

Cal Biesecker By
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L3’s Earnings Fall But Handily Beat Estimates
L3 Technologies President and CEO Christopher Kubasik. Photo: L3

L3 Technologies [LLL] on Thursday reported a big drop in net income in the first quarter because of one-time gain  last year related to divestiture of a former business segment but the results soared well above analysts’ expectations on stronger than expected operating performance.Net income fell 28 percent to $164 million, $2.07 earnings per share (EPS), from $227 million ($2.87) a year ago, beating consensus estimates by 26 cents per share. The results a year ago benefited from a $64…

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