L-3 Announces Second Quarter 2008 Results (Business Wire)

NEW YORK--(BUSINESS WIRE)--L-3 Communications (NYSE: LLL - News ) today reported diluted EPS of $2.24 for the quarter ended June 27, 2008 (2008 second quarter), including a $0.57 net gain for certain items which occurred during the quarter, and are discussed below. Excluding these items, EPS was $1.67, a 12% increase, compared to $1.49 for the quarter ended June 29, 2007 (2007 second quarter). Net sales increased 9% to $3.7 billion, compared to $3.4 billion for the 2007 second quarter. Second quarter 2008 net cash from operating activities was $535 million, compared to $386 million for the 2007 second quarter. The 2008 second quarter results were impacted by three items aggregating a net gain of $0.57 per diluted share, which are collectively referred to as the Q2 2008 Items. A gain of $133 million ($81 million after income... [read full story]