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L3 Technologies Q1 profit climbs 6.3% YOY

L-3 Communications Holdings Inc. said its first-quarter normalized net income came to $1.78 per share, compared with the S&P Capital IQ consensus estimate of $1.81 per share.

EPS increased 5.9% year over year from $1.68.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $141.0 million, a gain of 6.3% from $132.6 million in the prior-year period.

The normalized profit margin fell to 5.3% from 5.6% in the year-earlier period.

Total revenue grew 13.4% year over year to $2.67 billion from $2.35 billion, and total operating expenses grew 14.3% on an annual basis to $2.40 billion from $2.10 billion.

Reported net income totaled $164.2 million, or $2.07 per share, compared with $164.3 million, or $2.08 per share, in the year-earlier period.