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March 12, 2014
08:01 EDTLLLL-3 Communications reorganizes business segments
L-3 Communications has reorganized its business segments to better align its organizational structure with customer priorities and increase operational efficiencies. The new structure is effective immediately. L-3’s structure now consists of these four business segments: Aerospace Systems, Electronic Systems, Communication Systems and National Security Solutions. John C. McNellis has been named president of Aerospace Systems, which combines the operations of the former Platform & Logistics Solutions segment with Intelligence, Surveillance and Reconnaissance Systems. Steve Kantor continues in his role as president of Electronic Systems, which includes all previous businesses except Microwave Products, which is now part of Communication Systems. John S. Mega has been named president of Communication Systems, which combines the operations of Microwave Products, previously part of the Electronic Systems segment, with Networked and Secure Communications Products, previously part of the former C3ISR segment. Les A. Rose continues in his role as president of National Security Solutions, which remains unchanged. The realignment is not expected to have any impact on the company’s consolidated 2014 financial guidance.
News For LLL From The Last 14 Days
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July 30, 2015
19:43 EDTLLLL-3 Communications considers exiting head-of-state aircraft business
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14:05 EDTLLLL-3 Communications downgraded to Underperform from Buy at BofA/Merrill
07:11 EDTLLLL-3 Communications lowers FY15 EPS view to $6.70-$7.00, consensus $7.55
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07:01 EDTLLLL-3 Communications reports Q2 adjusted EPS $1.41, consensus $1.71
Reports Q2 revenue $2.7.9B, consensus $2.88B. Reports Q2 book-to-bill ratio of 1.01x. “Our second quarter results were impacted by disappointing charges in the Platform Integration division of our Aerospace Systems segment, as well as continuing headwinds from the U.S. defense budget constraints. Despite these challenges, we made progress repositioning our portfolio, investing in our core businesses and expanding our commercial aviation training solutions business through our recent acquisition of CTC Aviation Group, a higher margin business that we expect to be immediately accretive to our operating results, and also completed the sale of our MSI business,” said Michael T. Strianese, chairman, president and CEO.
July 27, 2015
17:34 EDTLLLL-3 Communications awarded $274.6M government contract
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July 22, 2015
06:56 EDTLLLContractor mergers, sales fueled by government spending cuts, Reuters says
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