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L3 Technologies fiscal Q3 profit climbs 24.7% YOY

L-3 Communications Holdings Inc. said its normalized net income for the fiscal third quarter ended Sept. 29 amounted to $1.90 per share, compared with the S&P Capital IQ consensus estimate of $1.92 per share.

EPS climbed 23.2% year over year from $1.54.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $151.4 million, an increase of 24.7% from $121.4 million in the year-earlier period.

The normalized profit margin rose to 5.7% from 4.8% in the year-earlier period.

Total revenue increased 5.6% on an annual basis to $2.65 billion from $2.50 billion, and total operating expenses climbed on an annual basis to $2.36 billion from $2.27 billion.

Reported net income fell 84.4% year over year to $23.1 million, or 29 cents per share, from $148.1 million, or $1.88 per share.