L-3 Sees Strong Results in Q4 and for Entire Year

L-3 Communications has announced its results for the Q4 2004, and the results were strong. Sales for the quarter were $1,911.2 million; diluted earnings per share were $1.01, net cash from operating activities totaled $212.7 million and free cash flow was at $188.1 million.

Sales were up 29 percent in the fourth quarter, as compared to the fourth quarter of 2003. The acquired business sales increase was up 15 percent, and consolidated organic sales were up 14 percent.

L-3's defense business saw organic sales of 16.3 percent, which the company attributed to "continued strong demand for secure communications and intelligence, surveillance and reconnaissance (ISR) systems, aircraft modernization, training and government services, training devices and naval power equipment services."

Frank Lanza, L-3 chairman and CEO, described the fourth quarter results as "excellent".

Looking at 2004 as a whole saw a banner year for L-3, with sales up 36.3 percent, to $6,897 million compared to 2003 sales of $5,061.6 million.