L-3 Communications Q4 Earnings Decline

(RTTNews) - L-3 Communications Holdings, Inc.(LLL) said its fourth-quarter net income from continuing operations attributable to L-3 declined to $196 million or $2.17 a share from last year's $212 million or $2.25 a share. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $1.97 for the quarter. Analysts' estimates typically exclude one-time items. For the fourth quarter, net sales slid by 8.5 percent to $3.256 billion from last year's $3.560 billion. Analysts estimated the firm to generate revenues of $3.16 billion.

Looking ahead to the year 2014, the company expects earnings per share from continuing operations of $8.15 - $8.35, on net sales of $11.90 billion - $12.10 billion. Analysts currently foresee earnings per share of $8.17, on sales of $12.01 billion, for the year.