L-3’s Growth Ramps Up
For the 2004 second quarter, sales increased by 36.9 per cent to $US1,680.0 million from sales of $US1,226.9 million for the 2003 second quarter. The increase in sales from acquired businesses was $US279.3 million. Consolidated organic(2) sales growth was 14.2 per cent, or $US173.8 million. Organic sales growth for the company’s defence businesses was 13.7 per cent, or $US149.2 million, driven by continued strong demand for secure communications and intelligence, surveillance and reconnaissance systems and products, aircraft modernization and maintenance, training and government services, training devices, guidance, navigation and imaging products and naval power equipment and services. Organic sales for the company’s commercial and other non-military businesses increased by 17.4 per cent, or $US24.6 million, primarily due to increased volumes for commercial aviation products and maintenance of security systems.