Aerospace and defense company L-3 Communications Holdings, Inc. (LLL) reported on Wednesday a drop in fourth quarter profit, but results beat the Wall Street view. More over, the company increased its 2013 guidance.
The New York, New York-based company posted a fourth quarter net income of $212 million, or $2.25 per share, down from $274 million, or $2.72 per share, earned in the same period of 2011. The consensus analyst view was that L-3 would earn $2.12 per share.
Sales for the quarter were $3.56 billion, up slightly from $3.54 billion in the year ago period. Analysts were expecting revenue to be $3.46 billion.
The company raised its 2013 estimates. It now expects EPS from continuing operating to be $8.15 to $8.35 versus the prior estimate of $7.95 to $8.15. Net sales are still expected to be in the range of $12.55 billion to $12.75 billion. Analysts are expecting the company to earn $7.97 per share on revenue of $12.58 billion in 2013.
L-3 Communications shares were up slightly during pre-market trading on Wednesday. The stock is up +11.41% over the past year.
The Bottom Line
Shares of L-3 Communications (LLL) have a dividend yield of 2.57% based on last night’s closing price of $77.89.
L-3 Communications Holdings, Inc. (LLL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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