$LLL (L-3 Communications Holdings Inc.)

$LLL {{ '2015-12-21T14:04:36+0000' | timeago}} • Announcement

Surveillance systems contractor $LLL said that pursuant to the cash tender offer by its subsidiary L-3 Communications Corporation (L-3), about $840MM aggregate principal amount of notes were validly tendered and not validly withdrawn at or prior to 5:00 pm, New York City time, on Dec. 18, 2015. The tender offer will expire on Jan. 5, 2016.

$LLL {{ '2017-04-27T13:49:56+0000' | timeago}} • Announcement

$LLL sees FY17 net sales at $10.75-10.95Bil with a 10.3% operating margin on an effective tax rate of 27%, generating earnings of $8.50-8.70 per diluted share. Capital expenditures, net of dispositions of property, plant and equipment, is estimated at $220MM. Full year free cash flow is touted to be at $865MM.

$LLL {{ '2017-04-27T13:38:42+0000' | timeago}} • Announcement

In 1Q17, $LLL's Electronic Systems segment sales rose 24.3% to $737MM. Aerospace Systems sales improved 4% to $1.05Bil. Communication Systems saw a 14% bump in sales of $537MM, while Sensor Systems sales gained 23.2% to $350MM.

$LLL {{ '2017-04-27T13:34:51+0000' | timeago}} • Announcement

Net sales of $LLL jumped 13% to $2.7Bil in 1Q17, as it posted a 28% drop in net attributable income of $164MM from last year's $227MM. Earnings fell to $2.07 per diluted share from $2.87 per share, mainly due to this year's absence of the after-tax gain of $64MM on the sale of the National Security Solutions business last year.

$LLL {{ '2017-02-13T21:02:06+0000' | timeago}} • Announcement

$LLL's BoD has increased its regular quarterly cash dividend from $0.70 to $0.75 per share. The Board has also declared the next dividend payable on March 15, 2017 to shareholders of record at the close of business on March 1, 2017.

$LLL {{ '2017-02-09T22:11:54+0000' | timeago}} • Announcement

$LLL appointed Rear Admiral Gary Rosholt (U.S. Navy Ret.) as VP of Middle East Operations. Rosholt will lead corporate offices in Riyadh and Abu Dhabi, where he will be responsible for managing $LLL's operations in the Kingdom of Saudi Arabia, the United Arab Emirates and the Middle East region.

$LLL {{ '2017-02-01T16:20:41+0000' | timeago}} • Announcement

$LLL appointed Richard Foster as corporate VP of Canada Operations. Based in Ottawa, Foster will be responsible for overseeing all of $LLL's Canadian business and coordinating with the business development team to broaden L3 Canada's customer base. Foster will report to David Van Buren, SVP of Program Development.

$LLL {{ '2017-01-26T13:03:39+0000' | timeago}} • Announcement

$LLL lifted 2017 net sales outlook to $10.625-10.825Bil from $10.475-10.675Bil and its EPS guidance to $8.40-8.60 from $8.15-8.35. The company raised its segment operating margin forecast to 10.3% from 10% and its interest and other expenses estimate to $158MM from $157MM.

$LLL {{ '2017-01-26T13:00:39+0000' | timeago}} • Announcement

$LLL's funded orders for 4Q16 increased 40% to $3.58Bil from $2.56Bil last year. The increase was driven primarily by new business contract awards at Electronic Systems and earlier than expected funding on existing contracts with the U.S. Department of Defense (DoD) at Aerospace Systems. Funded backlog rose 6% YoverY to $8.9Bil at Dec. 31, 2016.

$LLL {{ '2017-01-26T12:58:51+0000' | timeago}} • Announcement

$LLL swung to a 4Q16 profit from a loss last year, which was negatively impacted by goodwill impairment charges and business divestitures. Net income was $188MM or $2.38 per share compared to a loss of $166MM or $2.11 per share last year. Net sales grew to $2.99Bil from $2.87Bil.

$LLL {{ '2017-01-25T17:23:22+0000' | timeago}} • Announcement

$LLL will realign Electronic Systems into two business segments. Todd Gautier, currently President of the company's Precision Engagement & Training sector, will become corporate SVP and President of the reorganized Electronic Systems segment.

$LLL {{ '2017-01-25T17:22:47+0000' | timeago}} • Announcement

$LLL said Curtis Brunson's responsibilities will be assumed by David Van Buren, as corporate SVP of Program Development, and Heidi Wood, as corporate SVP of Strategy. Jeff Miller, currently President of Integrated Sensor Systems sector, will become corporate SVP and President of the Sensor Systems segment.

$LLL {{ '2017-01-25T17:20:07+0000' | timeago}} • Announcement

$LLL said Curtis Brunson, EVP of Corporate Strategy and Development, and Steve Kantor, SVP and President of its Electronic Systems business segment, will be transitioning from their roles effective March 1, before retiring in 2Q17.

$LLL {{ '2016-12-20T17:39:27+0000' | timeago}} • Webcast

$LLL said it received an order from the Transportation Security Administration for its ProVision 2 next-generation security scanners for primary passenger screening at airports across the United States. The value of the award is above $21MM.

$LLL {{ '2016-12-06T18:26:02+0000' | timeago}} • Announcement

$LLL said it will change its name to L3 Technologies from L-3 Communications, effective Dec. 31, As part of its name change, $LLL will update its corporate logo and change its email and website to L3T.com on Jan. 3, 2017. The company's NYSE ticker symbol will remain the same.

$LLL {{ '2016-11-30T15:21:08+0000' | timeago}} • Announcement

$LLL's subsidiary L-3 Communications Corp. initiated redemption of $350MM of its 1.50% senior notes due in 2017. Following the redemption of the notes, no notes will remain outstanding. The notes will be redeemed on Dec. 30, 2016 at price equal to 100% of aggregate thereof plus a make-whole premium.

$LLL {{ '2016-11-23T12:26:11+0000' | timeago}} • Announcement

$LLL reported that the acquired company MacDonald Humfrey will report to the L-3 Security & Detection Systems division of the company’s Electronic Systems business segment. This division will operate as  L-3 MacDonald Humfrey, the company said.

$LLL {{ '2016-11-23T12:24:01+0000' | timeago}} • Announcement

$LLL stated the $280MM acquisition of MacDonald Humfrey was funded initially from revolving credit borrowings expected to be repaid before the end of Dec. 2016 from free cash flow. L-3 MacDonald Humfrey is expected to add earnings to $LLL and generate sales of approx. $135MM for the year ending Dec. 31, 2017.

$LLL {{ '2016-11-23T12:21:09+0000' | timeago}} • Announcement

$LLL acquired U.K.-based MacDonald Humfrey Ltd for approx. $280MM. The purchase price is subject to an upward adjustment of up to approx. $37.5MM, based on MacDonald Humfrey’s post-acquisition performance for years ending Dec. 31, 2017 to 2019, which would be payable in 2020.

$LLL {{ '2016-11-18T19:52:45+0000' | timeago}} • Announcement

$LLL received a contract to deliver switchgear equipment in support of the power distribution and protection system for the U.S. Navy's newest submarine, which will replace the existing Ohio-class platform. Follow-on deliveries will extend to 2035 if the U.S. Navy builds all boats in the current plan of record.

$LLL {{ '2016-10-27T23:14:29+0000' | timeago}} • Webcast

For 2017, $LLL expects its organic sales growth to be in the 3-4% range for Electronic Systems and in the 4-5% range for Communication Systems. The company also expects 2017 operating margin on a segment level at 12.8% for Electronic Systems, 6.8% for Aerospace Systems, and 10.3% for Communication Systems.

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