L-3 Comms Well Defended

Tags: lll, osis
3 Dec 2:47am
Posted by ZacksResearch
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Headquartered in New York City, L-3 Communications Holdings Inc. (LLL) is a leading supplier of a broad range of products and services used in a number of aerospace and defense platforms. The company supplies subsystems on many platforms that are used for secure communication networks; mobile satellite communications; information security systems; shipboard communications; naval power systems; fuses and safety & arming devices for missiles and munitions; microwave assemblies for radars and missiles; telemetry and instrumentation; and airport security systems.

L-3 reported stable 3rd quarter 2008 results with sales up 6% year-over-year, net income up 6.5%, and fully-diluted EPS up 11%. The company's funded backlog increased 18% to $11.3 billion, with a book-to-bill ratio of 1.08 during the recently reported 3rd quarter of 2008.

LLL stock currently trades at a discount relative to comparable defense industry peers.  L-3's free cash flow is expected to be at least $1.2 billion for the full-year 2008.  In June 2008, the US Court of Appeals reversed the May 2006 $126 million jury verdict against L-3 filed by OSI Systems, Inc. (OSIS).

Read the full analyst report on LLL




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