L-3 CEO says considers acquisitions, buybacks

WASHINGTON, Dec 1 (BestGrowthStock) – L-3 Communications Holdings
Inc (LLL.N: ) Chief Executive Michael Strianese said on Wednesday
his company is still actively looking for acquisitions but will
also consider ensuring shareholder value through share
buybacks.

Strianese told an investment conference that he did not
expect any major divestments of the company’s sectors but said
some readjustments to its portfolio could be announced over the
coming year.

Strianese says the defense budget environment is
challenging but “not going off a cliff.”

He also expressed some concern about pressure on industry
profit margins as a result of Pentagon cost-cutting measures,
and said his company would skip bidding for some contracts if
profit margins got too low. L-3 would not accept a lot of risk
for margins of 2 percent, he said.
(Reporting by Andrea Shalal-Esa, editing by Gerald E.
McCormick)

L-3 CEO says considers acquisitions, buybacks