Join        Login             Stock Quote

L-3 Communications (LLL) Lifts Earnings Outlook For 2013

 January 30, 2013 07:34 AM

(By Balachander) L-3 Communications Holdings Inc. (NYSE: LLL) raised its 2013 earnings forecast by 20 cents after the provider of electronic systems for military and commercial platforms posted its quarterly results.

Earnings per share (EPS) from continuing operations increased 2 percent to $2.25 from $2.21, excluding items of 28 cents, in the prior year quarter.

Net income from continuing operations attributable to L-3 fell 16 percent to $212 million for the fourth quarter.

Net sales inched up 0.5 percent to $3.56 billion.

Wall Street analysts, on average, expected LLL to earn $2.12 per share on sales of $3.46 billion.

[Related -Lockheed Martin Corporation (NYSE:LMT): How A Small Budget Deal Impacts Defense Contractors?]

"Overall, we had a solid fourth quarter underscored by strong orders, sales and cash flows in spite of the challenges and uncertainty in the U.S. defense budget," commented CEO Michael Strianese. "Sales increased in our Electronic Systems and AM&M segments, which demonstrates that L-3 is well-positioned...to grow our international and commercial businesses and expand market share."

Operating margin improved 20 basis points to 10.2 percent, while segment operating margin shrank 100 basis points to 10.2 percent.

The company said it ended the quarter with funded backlog of $10.9 billion, up 10 percent compared with December 2011.

Looking ahead for the full year, the company now expects EPS from continuing operations in the range of $8.15 to $8.35 on sales between $12.55 billion and $12.75 billion. Analysts expect EPS of $7.97 on sales of $12.58 billion.

[Related -The Industrial Sector Offers A Lot Of Value, Dividend Growth And Income]

The stock, which has been trading in the 52-week range of $66.46 to $79.80, ended at $77.89 on Tuesday.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageDelta Air Lines (DAL): Panic Selling Makes This Airline Stock Ripe For A Quick Pop

If there ever were a teaching moment in the stock market, it was this week. Earnings, trendlines and read on...

article imageInvesting In The Time Of Ebola

Volatility is back in the market. Whether we are being tossed and turned by the Ebola crisis, Russian read on...

article imageMarket Volatility Continues But Is Bottom In?

The market’s volatility continues, and it has the outlook and expectations of the financial media jumping read on...

article imageBrazil's Petrobras Attracts Bullish Options Play

Brazilian stocks advanced with ADR shares in state-owned oil company Petroleo Brasileiro SA (Ticker: PBR) read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.