L-3 Communications Holdings Inc. (LLL) reported fourth-quarter net income allocable to shareholders of $225 million compared to $261 million last year. Earnings per share decreased to $1.93 from $2.17 last year.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit of $1.86 per share for the quarter.
Analysts' estimates typically exclude special items.
Net sales increased to $4.21 billion from $4.01 billion last year. Analysts expected revenue of $4.11 billion for the quarter.
The company has revised its consolidated and segment financial guidance for the year ending Dec. 31, 2010. Net sales are expected to be in the range of $15.8 billion-$16.0 billion; prior guidance was a range of $15.7 billion-$15.9 billion. Earnings per share is expected to be in the range of $8.00-$8.20; prior guidance was a range of $7.85-$8.05.
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