NEW YORK (AP) — L3 Technologies Inc. (LLL) on Tuesday reported first-quarter earnings of $203 million.
On a per-share basis, the New York-based company said it had profit of $2.54. Earnings, adjusted to account for discontinued operations, came to $2.34 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The communications and surveillance company posted revenue of $2.37 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.33 billion.
L3 expects full-year earnings to be $9.40 to $9.60 per share, with revenue in the range of $9.85 billion to $10.05 billion.
L3 shares have dropped 1 percent since the beginning of the year, while the Standard & Poor's 500 index has declined 1 percent. The stock has climbed 14 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLL at https://www.zacks.com/ap/LLL