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Last $106.97 USD
Change Today -0.15 / -0.14%
Volume 528.9K
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

l-3 communications holdings (LLL) Key Developments

L-3 Communications Holdings Inc. Presents at Jefferies 11th Annual Industrials Conference, Aug-12-2015 11:20 AM

L-3 Communications Holdings Inc. Presents at Jefferies 11th Annual Industrials Conference, Aug-12-2015 11:20 AM. Venue: Grand Hyatt, 109 E. 42nd Street, New York, New York, United States. Speakers: Michael T. Strianese, Chairman, Chief Executive Officer, President and Member of Executive Committee.

L-3 Communications Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 26, 2015; Provides Earnings Guidance for the Third Quarter of 2015; Revises Consolidated Earnings Guidance for the Year Ending December 31, 2015; Provides Free Cash Flows Outlook for the Year 2016

L-3 Communications Holdings Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 26, 2015. For the 2015 second quarter, consolidated net sales of $2.8 billion decreased $226 million, or 7%, compared to the 2014 second quarter sales of $3,019 million. Consolidated operating income for the 2015 second quarter decreased $73 million to $166 million, or 31%, compared to the 2014 second quarter operating income of $239 million. Net income attributable to L-3 in the 2015 second quarter decreased 12% to $120 million compared to the 2014 second quarter from $137 million, and diluted EPS decreased 6% to $1.44 from $1.53. Adjusted net income attributable to L-3 decreased 15% to $117 million compared to the 2014 second quarter of $137 million, and adjusted diluted EPS decreased 8% to $1.41. Net cash from operating activities decreased by $50 million, or 18%, to $227 million for the 2015 second quarter, compared to $277 million for the 2014 second quarter. Income before income taxes was $123 million against $204 million a year ago. Results for the 2015 second quarter were impacted by the items discussed below, which, in the aggregate, decreased EPS by $0.34 per diluted share. Capital expenditures, net of dispositions were $44 million against $36 million a year ago. For the 2015 first half, consolidated net sales of $5.5 billion decreased $470 million, or 8%, compared to the first half ended June 27, 2014 (2014 first half). Consolidated operating income for the 2015 first half decreased $159 million to $366 million, or 30%, compared to the 2014 first half of $525 million. Net income attributable to L-3 in the 2015 first half decreased 27% to $225 million compared to the 2014 first half of $307 million, and diluted EPS decreased 22% to $2.69 from $3.43. Adjusted net income attributable to L-3 decreased 23% to $237 million compared to the 2014 first half of $307 million and adjusted diluted EPS decreased 17% to $2.84 from $1.53 a year ago. Net cash from operating activities increased by $99 million, or 46%, to $314 million for the 2015 first half, compared to $215 million for the 2014 first half. The increase in net cash from operating activities in the 2015 first half was due to a lower increase in net working capital in the 2015 first half compared to the 2014 first half, primarily related to receivables and accounts payable and lower income tax payments. Income before income taxes was $282 million against $452 million a year ago. Capital expenditures were $85 million against $67 million a year ago. The company revised consolidated earnings guidance for the year ending December 31, 2015. Currently the company expects net sales in the range of $11,450 million to $11,650 million, effective tax rate of 27.0%, diluted EPS in the range of $6.55 to $6.85, adjusted diluted EPS in the range of $6.70 to $7.00, net cash from operating activities of $1,045 million, capital expenditures, net of dispositions of property, plant and equipment of $195 million and free cash flow of $850 million compared to previously expected net sales in the range of $11,450 million to $11,650 million, effective tax rate of 32.0%, diluted EPS in the range of $7.17 to $7.47, adjusted diluted EPS in the range of $7.35 to $7.65, net cash from operating activities of $1,120 million, capital expenditures, net of dispositions of property, plant and equipment of $195 million and free cash flow of $925 million. Interest expense currently expects at $189 million against $190 million as previously expected. The company provided earnings guidance for the third quarter of 2015. The company expects net sales in the range of $2.9 billion to $3.0 billion, operating margin high 8% range, adjusted EPS in the range of $1.75 to $1.85 and free cash flow of approx. $150 million. The company expects its free cash flow to return to over $900 million in 2016.

L-3 Communications Considering Strategic Alternatives For NSS Business

L-3 Communications Holdings Inc. (NYSE:LLL) is engaged in a process to evaluate strategic alternatives for the National Security Solutions business to maximize value for the shareholders. These strategic alternatives could include, among other possibilities, a potential sale, spin-off or other divestiture transactions for the business. The review is expected to be concluded by the end of the year, although no timetable has been set.

Companies Reportedly Mulls To Sell government services units

L-3 Communications Holdings Inc. (NYSE:LLL), BAE Systems plc (LSE:BA.), Vencore Inc., SRA Companies, Inc. and Novetta Solutions, LLC are among the companies that have been running auctions in recent months to sell either their government services units or themselves, people familiar with the matter have said.

L-3 Communications Holdings Inc. to Report Q2, 2015 Results on Jul 30, 2015

L-3 Communications Holdings Inc. announced that they will report Q2, 2015 results at 11:00 AM, Eastern Daylight on Jul 30, 2015

 

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LLL

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Price/Earnings 15.6x
Price/Sales 0.8x
Price/Book 1.7x
Price/Cash Flow 14.8x
TEV/Sales 0.4x
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