Wired News – L3 Technologies Divests its Vertex Aerospace Unit

Stock Monitor: Rockwell Collins Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 03, 2018 / Active-Investors.com has just released a free research report on L3 Technologies, Inc. (NYSE: LLL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LLL as the Company’s latest news hit the wire. On May 01, 2018, the Company announced that it has entered into a definitive agreement to divest its Vertex Aerospace business to American Industrial Partners for $540 million in cash. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Rockwell Collins, Inc. (NYSE: COL), which also belongs to the Industrial Goods sector as the Company L3 Technologies. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, L3 Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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As part of the agreement, L3 Technologies will also sell its Crestview Aerospace and TCS business units, which are included in the Aerospace Systems business segment. The Company will record a gain from this transaction with after-tax proceeds of approximately $400 million, which L3 technologies intends to utilize in the continued growth of the Company, consistent with its capital allocation strategy and plans.

Vertex Aerospace provides aviation logistics services, supply chain management, and maintenance, repair, and overhaul services. Crestview Aerospace provides select rotary aircraft component fabrication and assembly, while TCS provides select engineering services and logistics support. For the full fiscal year ended December 31, 2017, Crestview Aerospace and TCS generated $115 million of net sales, which were included in L3 Technologies’ Aerospace Systems segment results.

L3 Technologies is anticipating the transaction to be completed in the summer of 2018, subject to customary closing conditions and regulatory approvals. The Vertex Aerospace results of operations were reported as discontinued operations beginning in Q4 2017, and Crestview Aerospace and TCS were reported as assets held for sale in continuing operations.

Earnings Announcement

On the same day of its divestiture announcement, L3 Technologies reported its financial results for the first quarter of the fiscal year 2018. For Q1 2018, the Company’s consolidated net sales rose 2% to $2.37 billion compared to $2.32 billion in Q1 2017. L3 Technologies’ organic sales grew 2% to $2.35 billion on a y-o-y basis in the reported quarter.

For Q1 2018, L3 Technologies reported earnings from continuing operations of $203 million, or $2.03 per diluted share, compared to $164 million, or $1.93 per diluted share, in Q1 2017.

During Q1 2018, L3 Technologies’ funded orders increased 10% to $2.64 billion compared to $2.39 billion in Q1 2017. The Company’s book-to-bill ratio was 1.11x in the reported quarter. L3 Technologies’ funded backlog increased 3% to $8.77 billion at March 30, 2018, compared to $8.49 billion at December 31, 2017.

About L3 Technologies, Inc.

Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide, and is a leading provider of a broad range of communication, electronic, and sensor systems used on military, homeland security, and commercial platforms. L3 Technologies is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The Company reported sales of $9.6 billion in 2017.

Stock Performance Snapshot

May 02, 2018 – At Wednesday’s closing bell, L3 Technologies’ stock dropped 1.45%, ending the trading session at $184.26.

Volume traded for the day: 1.11 million shares, which was above the 3-month average volume of 692.03 thousand shares.

Stock performance in the past twelve-month period – up 8.89%

After yesterday’s close, L3 Technologies’ market cap was at $14.77 billion.

Price to Earnings (P/E) ratio was at 21.73.

The stock has a dividend yield of 1.74%.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.

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