Nov 01, 2005 00:18 UTCL-3 Communications (NYSE:LLL) today announced its results for Q3 of FY 2005, including sales of $2.5 billion, operating income of $266.5 million, diluted earnings per share of $1.11, and net cash from operating activities of $219.0 million. All represent an increase over the same quarter last year; full details may be found in L-3’s financial release.
During Q3 2005 third quarter, L-3 also revised the aggregation of its divisions into four reportable segments, to provide a more clearly defined presentation of L-3’s businesses. The company’s reportable segments are now:
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Nov 01, 2005 00:15 UTCDID has been undertaking ongoing coverage of some of the debates within Europe regarding the future of its defense industries, and of the growing weakness in its defense posture. The European Parliament recently voted on the EU 2006 Budget, and once again reduced the European Commission’s proposed allocation of EUR 24 million for the Preparatory Action for Security Research (PASR) program to EUR 15 million. This move follows a similar reduction in the 2005 budget allocations. These efforts constitute the European Commission’s contribution to the wider EU agenda for addressing key security challenges facing Europe and her partners.
In 2004 and 2005, the set security priorities included protection of networked systems, protection against terrorism, enhancing crisis management, interoperability and integrated systems and improving situation awareness. The new AeroSpace and Defence Industries Association of Europe (ASD) strongly protested these cuts. The ASD is being formed in a merger of AECMA, the European Association of Aerospace Industries; EDIG, the European Defence Industries Group; and EUROSPACE, the association of the European space industry. It’s industry consolidation already!
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