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Tax Benefit Pushes L3’s Earnings Higher In Fourth Quarter As Sales Dip

Cal Biesecker By
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Tax Benefit Pushes L3’s Earnings Higher In Fourth Quarter As Sales Dip
L3 Technologies President and CEO Christopher Kubasik. Photo: L3

Unlike other defense companies this week that reported negative tax provisions in their fourth quarter and year-end financial results for 2017, L3 Technologies [LLL] on Thursday said its net income benefited from a new tax law, which led earnings higher amid a modest decline in sales in the quarter.Net income soared 54 percent to $289 million, $3.62 earnings per share (EPS), from $188 million ($2.38 EPS). Excluding results from the company’s Vertex unit, which is up for sale and is…

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