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News Breaks
July 22, 2013
09:33 EDTLLLL-3 Link wins PMATS recompete
L-3 Communications announced that its Link Simulation & Training division has won the recompete for the U.S. Air Force’s Predator Mission Aircrew Training System, or PMATS, program. The recompete contract awarded to L-3 Link by the U.S. Air Force’s Life Cycle Management Center at Wright-Patterson Air Force Base, Ohio, includes transitional funding that extends through September, in addition to six one-year contract options.
News For LLL From The Last 14 Days
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August 24, 2015
09:02 EDTLLLSparton, L-3 reach settlement agreement; Sparton to pay L-3 $2.5M
Sparton Corporation (SPA) has signed a settlement agreement to pay L-3 Communications (LLL) $2.5M. On September 24, 2013, L-3 Communications Corporation, doing business as L-3 Linkabit, filed a complaint in the United States District Court for the Middle District of Florida, Orlando Division, against Sparton Corporation and Sparton Electronics. On August 20, 2015, Sparton and L-3 signed a mutual accord resolving the dispute. The agreement requires payment from Sparton to L-3 on or before October 1, 2015 in consideration for dismissal of the litigation. Neither party admitted to any mistakes, damage or fault. "This settlement has resulted in a positive business outcome between our two companies," stated Cary Wood, President & CEO of Sparton. "Our on-going relationship with L-3 remains solid and we expect to continue to be partners well into the future. The new business development funnel continues to be strong overall and includes a number of key L-3 programs currently in the quote phase. With fiscal 2015's adjusted earnings per share to be announced on September 8, 2015 in-line with analyst consensus, it allows us to enter fiscal 2016 with a clean slate by having this dispute and the Fenwal rebalancing activities well behind us, setting us up for what we expect to be a successful fiscal 2016 on all fronts."

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