Aerospace Systems: The segment recorded net sales of 727 million in the quarter, down annually by $1 million. The downside was attributed to lower volume for large ISR aircraft systems for foreign military customers.
While operating income increased to $58 million from $50 million, operating margin expanded 110 bps to 8%.
https://finance.yahoo.com/news/l3-technologies-lll-q4-earnings-153203282.html
Security & Detection is hurting big time. New Mgt is not playing well. No chemistry and big egos
I’m sure he’ll be even less happy once he figures out Greenville/Waco is ran by a bunch of imbeciles!
The L3 Technologies plant in Waco has gained the attention of the defense giant’s new CEO Christopher Kubasik, who mentioned the facility during a conference call Thursday on L3’s financial results during the fourth quarter of 2017.
Kubasik said he is “not happy” with the performance of Aerospace Systems Greenville segment and that its market “has been shrinking,” and that it faces a “key year” in 2018.
The Waco facility, whose operations have been merged with those in Greenville, another plant in L3’s Aerospace Systems unit was a mistake as Greenville operations took a down turn in the 4th quarter.
Smoke and mirrors for the major stock holders
Electronic Systems: Net sales at the segment declined 7% to $803 million from the prior-year figure of $861 million, mainly on account of significant organic sales decline.
Communication Systems: Net sales at the segment improved about 3% to $602 million, primarily owing to increased volume and deliveries of secure networked communication systems to the U.S. Department of Defense.
Sensor Systems: Net sales at the segment declined 6% to $442 million on account of lower organic sales.
L3 Technologies raised its 2018 earnings outlook. The company now expects earnings in the range of $9.30-$9.50 per share (versus the prior range of $8.60-$8.85).
The company reported earnings of $3.34 which was higher than the prior-year quarter’s equivalent of $2.32 per share. The improvement was led by a tax benefit of 99 cents on account of the recent U.S. tax reforms.