L-3 Communications Q4 Profit Climbs; Adjusts FY15 Targets

(RTTNews) - L-3 Communications' (LLL) fourth-quarter 2014 net income attributable to the company grew by 10% year-on-year to $203 million from $185 million, and per-share earnings improved by 16% to $2.36 from $2.04 in the 2013 fourth quarter.

For the 2014 fourth quarter, consolidated net sales of $3.21 billion decreased $26 million, or 1%, compared to the 2013 fourth quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.27 per share and revenues of $3.16 billion for the quarter. Analysts' estimates typically exclude special items.

In addition, the company updated its consolidated guidance for the year 2015, now expecting earnings per share of $7.35 - $7.65 on net sales ranging between $11.75 billion and $11.95 billion. Analysts project annual earnings of $7.60 per share and revenues of $11.74 billion.