ADVFN - Advanced Financial Network.
HOME» NYSE » L » LLL Stock Price » LLL Stock News

L3 Comm Share News

 L-3 Communications Holdings, Inc. Stock Price
LLL Stock Price
 L-3 Communications Holdings, Inc. Stock Chart
LLL Stock Chart
 L-3 Communications Holdings, Inc. Stock News
LLL Stock News
 L-3 Communications Holdings, Inc. Company Information
LLL Company Information
 L-3 Communications Holdings, Inc. Stock Trades
LLL Stock Trades

L-3 3Q Net Down 4.4% Following Gain As Sales Dip; 2011 View Weak

DOW JONES NEWSWIRES L-3 Communications Holdings Inc.'s (LLL) third-quarter profit dropped 4.4% following a year-earlier gain as sales dipped but margins rose. The company cut its sales forecast for the year to $15.6 billion to $15.7 billion from $16 billion to $16.1 billion but affirmed its earnings view as it sees higher margins than before. For 2011, it predicted earnings of $8.20 to $8.40 on sales of $15.7 billion to $15.9 billion. Analysts most recently expected $8.83 a share and $16.43 billion, respectively. The contractor of services such as training militaries and upgrading government aircraft differs from larger rivals who rely on a few major contracts for a bulk of sales. Its bottom line has held up in recent quarters, as defense companies prepare for slowing spending by customers such as the U.S. military. L-3 posted a profit of $238 million, or $2.07 a share, down from $250 million, or $2.12 a share, a year earlier. The latest quarter included a 3-cent debt retirement charge while the year-earlier result saw a 22-cent tax-related benefit. Sales dipped 0.2% to $3.84 billion. In July, the company forecast earnings of $2 a share on $4 billion in sales, falling short of analysts' then-estimates. Operating margin widened to 11.4% from 10.9%. Funded orders rose 4% from a year earlier to $3.5 billion as funded backlog ended the period at $10.8 billion, down from $10.9 billion at the beginning of the year. The electronic systems segment, typically L-3's largest by sales, fell 2.6% on that basis as operating income jumped 20% on higher margins. Shares closed Wednesday at $71.13 and were inactive premarket. The stock has dropped 18% this year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for L3 Comm (LLL)
DateTimeHeadline
06/25/201517:10:20Annual Report of Employee Stock Plans (11-k)
06/25/201517:06:00Annual Report of Employee Stock Plans (11-k)
06/19/201510:38:02The 3 Best Defense Stocks to Watch
06/18/201516:09:41Statement of Changes in Beneficial Ownership (4)
06/18/201516:09:14Statement of Changes in Beneficial Ownership (4)
06/17/201508:30:00L-3 Announces the New ClearScan™ Next-Generation Cabin Baggage E...
06/16/201516:14:03Statement of Changes in Beneficial Ownership (4)
06/16/201516:13:39Statement of Changes in Beneficial Ownership (4)
06/16/201516:12:48Statement of Changes in Beneficial Ownership (4)
06/16/201516:11:55Statement of Changes in Beneficial Ownership (4)
06/16/201516:11:55Statement of Changes in Beneficial Ownership (4)
06/16/201516:11:29Statement of Changes in Beneficial Ownership (4)
06/16/201516:10:37Statement of Changes in Beneficial Ownership (4)
06/16/201516:10:37Statement of Changes in Beneficial Ownership (4)
06/16/201516:09:44Statement of Changes in Beneficial Ownership (4)
06/12/201513:20:00Northrop Grumman Industry Team Ready to Meet Air Force Requirements...
06/10/201515:59:00L-3 Declares Quarterly Dividend
06/09/201516:12:30Initial Statement of Beneficial Ownership (3)
06/03/201516:11:40Current Report Filing (8-k)
06/03/201509:00:00L-3 Appoints Mark Von Schwarz as President of Aerospace Systems

L3 Comm and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad