L-3 Communications (LLL) Tops Q4 EPS by 15c

L-3 Communications (NYSE: LLL) reported Q4 EPS of $2.36, $0.15 better than the analyst estimate of $2.21. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.16 billion.

Across L-3, our dedicated employees contributed to a solid fourth quarter by focusing on program execution and productivity improvements,” said Michael T. Strianese, chairman, president and chief executive officer. “We penetrated new markets and capitalized on emerging opportunities, as evidenced by strong funded orders of $3.4 billion, resulting in a book-to-bill ratio of 1.05x.”

“We also continued to execute our disciplined portfolio reshaping and cash allocation strategy. During the quarter, we announced a definitive agreement to sell our Hamburg-based Marine Systems International (L-3 MSI) business to Wärtsilä Corporation. We continue to evaluate our portfolio to address the needs of a dynamic and demanding marketplace and to strengthen our core business as demonstrated by our acquisition of MITEQ, Inc. in January 2015, which adds key products to our Communication Systems segment and further expands our customer base. We also delivered value to our shareholders during 2014 by repurchasing $823 million of our common stock and paying dividends of $208 million, for a total of $1 billion of cash returned to our shareholders.”

For earnings history and earnings-related data on L-3 Communications (LLL) click here.

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