L-3 Communications Q1 Profit Declines; Cuts FY15 Outlook - Quick Facts

(RTTNews) - L-3 Communications (LLL) posted first-quarter 2015 net income attributable to the company of $105 million or $1.25 per share, down from $170 million or $1.90 per share in the 2014 first quarter.

Adjusted net income attributable to the company for the latest first quarter declined to $120 million or $1.43 per share from $170 million or $1.90 per share in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.54 per share. Analysts' estimates typically exclude special items.

For the latest quarter, consolidated net sales were $2.71 billion, down 8% from $2.96 billion in the prior year period. Analysts expect revenues of $2.79 billion for the quarter.

For fiscal 2015, the company now expects earnings per share of $7.17 - $7.47 and net sales in the range of $11.45 billion to $11.65 billion.

Earlier, the company expected earnings per share of $7.35 - $7.65 and net sales of $11.75 billion to $11.95 billion.

The company currently expects adjusted earnings in the range of $7.35 to $7.65 per share. Analysts project annual earnings of $7.64 per share and revenues of $11.79 billion.