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 Communications 1Q Profit Off 7.7%, But Raises 2011 EPS View

DOW JONES NEWSWIRES L-3 Communications Holding Inc.'s (LLL) first-quarter profit fell 7.7% but it raised its outlook for earnings this year because of more planned stock buybacks and expected margin improvement. The company, which has contracts for such services as training foreign militaries and upgrading government aircraft, boosted its earnings view for 2011 to $8.50 to $8.60 a share, from the $8.40 to $8.55 projected in January. It lowered its revenue projection, though: it now sees revenue of $15.5 billion to $15.6 billion, down from $15.7 billion to $15.9 billion. The improved bottom-line forecast is partly the result of more planned share repurchases and higher estimated operating margins, thanks to tight cost controls and favorable projected sales mix. The company said it expects government-services revenue will be weaker than originally thought. L-3 differs from larger rivals who rely on a few major contracts for the bulk of revenue. Its core earnings have held up in recent quarters as defense companies prepare for slowing spending by customers such as the U.S. military. For the quarter ended March 26, L-3 posted a profit of $204 million, or $1.85 a share, down from $221 million, or $1.87 a share, a year earlier. Net sales eased 0.6% to $3.6 billion. In January, it had forecast earnings of about $1.85 a share on $3.6 billion in revenue, which was weaker than the average analyst estimates at the time. Operating margin narrowed to 10.8% from 11.3%. Funded orders dropped 7.7% from a year earlier to $3.36 billion as funded backlog ended the period at $10.91 billion, down 1.6%. The electronic-systems segment, L-3's biggest by revenue, saw sales fall 1.2% as operating income decreased 6.2%. Shares were down 0.3% at $76.75 in light, premarket trading. Through Wednesday's close, the stock had declined 21% in the last year, while the wider market has climbed. -By Joan E. Solsman and Ian Thomson, Dow Jones Newswires; 212-416-2291; ian.thomson@dowjones.com

Stock News for L3 Comm (LLL)
DateTimeHeadline
07/31/201409:49:05U.S. Hot Stocks: Hot Stocks to Watch
11/15/201307:04:51Bridgewater Associates LP 3Q 13F: Largest Eliminations
03/25/201319:00:08Former L-3 Staffer Given 6 Years Jail
02/06/201306:44:25U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
11/05/201215:26:25Healthcare, Financials, Defense Stocks in Play as Voters Head...
11/01/201208:40:11L-3 Communications Net Falls 18%
04/21/201200:20:37MARKET SNAPSHOT: U.S. Stock Gains Hinge On Apple, Blue-chip Results
01/13/201209:51:15Applications Given Early Antitrust Clearance
12/13/201109:41:44L-3 Communications Agrees To Acquire Danaher Unit For $210 Million
07/28/201107:53:32L-3 To Spin Off Government-Services Unit; 2Q Profit Up 6.6%
07/13/201113:24:24L-3 May Sell Some Assets, But Won't Seek Breakup -Reuters
06/27/201110:48:23Supreme Court Won't Consider Iraq Lawsuit Against Contractors
04/21/201108:03:10L-3 Communications 1Q Profit Off 7.7%, But Raises 2011 EPS View
02/08/201114:59:14L-3 Lifts Quarterly Dividend 13%; 7th Straight Annual Increase
01/27/201107:22:14L-3 Communications 4Q Profit Up 18%, Boosts Year EPS View
12/28/201007:33:11WSJ: FAA Seeks Fixes To Midair-Collision Warning Devices On 9,000...
10/28/201008:40:18L-3 3Q Net Down 4.4% Following Gain As Sales Dip; 2011 View Weak
10/04/201011:05:05High Court Asks For Government Brief In Abu Ghraib Case
09/09/201018:16:05L-3 Open To Taking Part In Air Force Tanker Proposals -Reuters
07/27/201008:13:31L-3 2Q Profit Up 1.3% As Sales Slightly Higher; View Reduced

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