L-3 Has Record Quarter

(MoneyWatch)  L-3 Communications released its earnings for the last quarter of 2008 and reported record sales of $4 billion. The company said that its earnings were $2.21 per share compared to $1.17 in the similar quarter of 2007. TradingMarkets.com has the press release here. The company also had record orders and backlog in the quarter. The highlights of 2008 were increased revenue due to winning a support contract for the Joint Cargo Aircraft (JCA) program and increased airborne ISR system sales to the U.S. government. One negative was the loss of a prime contract to provide linguistic services to the U.S. military, L-3 will be a sub-contractor on that vehicle. In 2009 the company continues to expect growth with revenue projected at $15.5 to $15.7 billion as compared to 2008's $14.9 billion.