L-3 Communications
L-3 Communications supplies a broad range of products and services used in a substantial number of aerospace and defense platforms. L-3 is also a major provider of homeland defense products and services for a variety of emerging markets.
A Recent Acquisition
L-3 Communications recently announced that it joined forces with Science Applications International Corporation (SAI) as it plans to retain a logistics support contract with the U.S. Special Operations Command (USSOCOM).
Strong Results Show Growth
The company announced second-quarter results in late July. Earnings per share of $1.67, excluding items, topped the year-ago $1.49 and exceeded the consensus estimate by 2.45%. Net sales grew by 9% to $3.7 billion from last year’s $3.4 billion.
L-3 has surprised on estimates during 4 consecutive quarters by an average of 2.93%. Analysts expect 2008 year-over-year earnings growth of 20%, calling for full-year 2008 earnings of $7.17 per share, up from the three months-ago level of $6.66.
Healthy Income
The company declared a quarterly dividend of 30 cents per share in early July. The dividend was paid on September 15. L-3 offers a dividend yield of 1.2%, well above the industry average.
L-3 plans to release its 2008 third quarter results on Thursday, October 23, 2008.