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February 3, 2014
09:16 EDTLLLL-3 Communications wins $73M contract
L-3 Communications announced that its Coleman Aerospace business has been awarded a new, competitively won contract from the U.S. Department of Defense’s Missile Defense Agency to provide Medium-Range Ballistic Missile target vehicles for use in tests of missile defense systems. The initial value of the award is approximately $73M, with additional options valued at more than $400M over the next five years.
News For LLL From The Last 14 Days
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April 30, 2015
07:03 EDTLLLL-3 Communications sees FY15 adjusted EPS $7.35-$7.65, consensus $7.64
Cuts FY15 net sales to $11.45B-$11.65B from $11.75B-$11.95B, consensus $11.79B. Raises FY15 segment operating margin to 9.4% from 9.3%. Backs FY15 effective tax rate of 32%. Backs FY15 free cash flow of $925M. Backs FY15 net cash from operating activities $1.12B. Cuts FY15 Electronic Systems sales to $4.25B-$4.35B from $4.55B-$4.65B. Backs FY15 Aerospace Systems sales $4.1B-$4.2B. Backs FY15 Communication Systems sales $1.9B-$2B. Backs FY15 NSS sales $1.1B-$1.2B. The revisions to our Current Guidance compared to our Prior Guidance include: A decrease in consolidated and Electronic Systems segment net sales of $300 million related to the expected divestiture of MSI on May 29, 2015; An increase in segment operating margin of 10 basis points and Electronic Systems segment operating margin of 30 basis points related to the expected divestiture of MSI on May 29, 2015; and An increase of $300 million in planned share repurchases from $500 million to $800 million, funded with the expected proceeds from the MSI divestiture.
07:00 EDTLLLL-3 Communications says book-to-bill ratio gives confidence in 2015 estimates
CEO Michael Strianese commented, “The fundamental growth drivers of our business remained strong during the first quarter as demonstrated by all four of our segments delivering book-to-bill ratios of greater than 1.0x. However, our results for the quarter were below our expectations and were negatively impacted by additional cost growth on international head-of-state aircraft modification contracts in the Platform Systems business of our Aerospace Systems segment. Accordingly, in order to strengthen the Platform Systems management, improve its program performance and enhance its competitiveness, we recently integrated the business into our ISR Systems sector. Additionally, we anticipate opportunities elsewhere in Aerospace Systems later this year that will improve the segment’s results. Despite these challenges, we continued to execute our strategy, capturing key new business wins during the quarter, which resulted in strong funded orders of $2.9 billion and a book-to-bill ratio of 1.06x.”
06:59 EDTLLLL-3 Communications reports Q1 adjusted EPS $1.43, consensus $1.54
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April 28, 2015
11:01 EDTLLLExelis, L-3 partner to develop electronic warfare solution for AFSOC aircraft
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