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L-3 1Q Profit Climbs 11% On Higher Margins, Lifts Fiscal Year View

DOW JONES NEWSWIRES L-3 Communications Holdings Inc.'s (LLL) first-quarter profit climbed 11% as higher margins and strength in the company's C3ISR segment, although sales were down across the rest of the company's businesses. The company, which has contracts for such services as training foreign militaries and upgrading government aircraft, boosted its 2010 earnings forecast by 13 cents to $8.13 to $8.33 a share, and now sees revenue of $16.2 billion to $16.3 billion, up from $15.8 billion to $16 billion. L-3, which differs from larger rivals who rely on a few major contracts for a bulk of revenue, has said the diversity of its operations will see it through the changes in U.S. defense spending. In a sign of strength, the company in February boosted its quarterly dividend 14%. Ahead of the results, Morgan Joseph expected the company's C3ISR segment, which provides signals and communications intelligence, would drive sales. That segment's revenue ended up 11% for the quarter. But the firm also expressed concern about weak sales for the company's flight simulators and propulsion systems. L-3 posted a profit of $221 million, or $1.87 a share, up from $199 million, or $1.66 a share, a year earlier. Net sales slid 0.3% to $3.62 billion, as three of the company's four business segments reported declines. In January, the company predicted earnings of about $1.75 and revenue to be close to $3.7 billion. Operating margins widened to 11.3% from 10.3%. Funded orders as of March 26 declined 3.4% to $3.64 billion, while funded backlog was down 0.3% to $10.83 billion. Shares closed at $97.54 on Wednesday and were inactive premarket. -By John Kell, Dow Jones Newswires; 212-416-2480;

Stock News for L3 Comm (LLL)
11/04/201514:25:11L-3 Communications Boasts of a Profit, but Posts a Massive Loss
11/03/201516:08:25Statement of Changes in Beneficial Ownership (4)
11/03/201516:07:58Statement of Changes in Beneficial Ownership (4)
11/03/201516:07:05Statement of Changes in Beneficial Ownership (4)
11/02/201517:22:50Quarterly Report (10-q)
11/02/201516:09:08Statement of Changes in Beneficial Ownership (4)
11/02/201516:06:57Initial Statement of Beneficial Ownership (3)
11/02/201510:02:00L-3 to Present at the Goldman Sachs Industrials Conference 2015
10/30/201517:17:31Current Report Filing (8-k)
10/29/201507:31:58Current Report Filing (8-k)
10/29/201506:55:00L-3 Announces Third Quarter 2015 Results
10/28/201509:00:00L-3 Names Christopher E. Kubasik President and Chief Operating...
10/22/201512:38:00L-3 to Broadcast Third Quarter Conference Call Over the Internet
10/20/201509:00:00L-3 Declares Quarterly Dividend
10/13/201516:21:00L-3 Acquires ForceX, Inc.
10/08/201509:00:00L-3 Awarded Contract to Missionize C-130J Aircraft for U.S. Coast...
10/06/201509:00:00L-3 Link Receives Award to Compete on Future Task Orders Under...
09/28/201521:00:00L-3 Communications to Pay $4.6 Million to Resolve Whistleblower...
09/17/201509:15:00L-3 Receives Contract for Apache MUMT-X Upgrade Program
09/16/201516:09:30Statement of Changes in Beneficial Ownership (4)

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