L-3 Communications

Not to be confused with Level 3 Communications.
L-3 Communications Holdings Inc.
Public
Traded as NYSE: LLL
S&P 500 Component
Industry Aerospace, Defense
Founded 1997
Headquarters New York City, New York, United States
Key people
Michael T. Strianese
(Chairman, President and CEO)
Products AVCATT, numerous specialized components
Revenue
  • Decrease US$ 12.629 billion (2013) [1]
  • US$ 13.146 billion (2012) [1]
  • Decrease US$ 1.258 billion (2013) [1]
  • US$ 1.351 billion (2012) [1]
  • Decrease US$ 778.0 million (2013) [1]
  • US$ 810.0 million (2012) [1]
Total assets
  • Increase US$ 14.009 billion (2013) [1]
  • US$ 13.791 billion (2012) [1]
Total equity
  • Increase US$ 6.098 billion (2013) [1]
  • US$ 5.543 billion (2012) [1]
Number of employees
Approximately 48,000 (2014)
Website L-3Com.com

L-3 Communications Holdings is an American company that supplies command and control, communications, intelligence, surveillance and reconnaissance (C3ISR) systems and products, avionics, ocean products, training devices and services, instrumentation, space, and navigation products. Its customers include the Department of Defense, Department of Homeland Security, U.S. Government intelligence agencies, NASA, aerospace contractors and commercial telecommunications and wireless customers.

L-3 is headquartered in Murray Hill, Manhattan, New York City.[2]

History

L-3 (named for Frank Lanza, Robert LaPenta and Lehman Brothers) was formed in 1997 to acquire certain business units from Lockheed Martin. These units had belonged to Lockheed Corporation and Martin Marietta, which had merged three years before in 1993.[3]

L-3 has continued to expand through mergers and acquisitions to become one of the top ten U.S. government contractors.[4]

On November 4, 2010 L-3 issued a part purge notification to prevent future use of Chinese counterfeit parts, but did not notify its customers whose display systems suffered from much higher than expected failure rates.[5]

Acquisitions

1997
2000
2002
2003
2005
2006
2010
2012
2015

Business organization

As of 2008, L-3 is organized under four business segments:

Management

Frank Lanza, CEO and co-founder, died on June 7, 2006. CFO Michael T. Strianese was named as interim CEO, and was appointed Chairman, President and CEO of the company on October 23, 2006.

Naming

Despite the similarity in naming, there is no corporate connection between L3 Communications and networking provider Level 3 Communications, whose name is often abbreviated "L3" in informal industry communication.

Products

Federal contract suspension

In 2010 it was announced that L3's Special Support Programs Division had been suspended by the United States Air Force from doing any contract work for the US federal government. A US Department of Defense investigation had reportedly found that the company had, "used a highly sensitive government computer network to collect competitive business information for its own use." A US federal criminal investigation[13] ended the temporary suspension on July 27, 2010.

See also

References

  1. 1 2 3 4 5 6 7 8 9 10 "L 3 COMMUNICATIONS HOLDINGS INC Current Report as of December 31, 2013 Form (8-K)" (XBRL). United States Securities and Exchange Commission. May 2, 2014.
  2. "Company Profile." L-3 Communications. Retrieved on March 10, 2010.
  3. "Robert V. LaPenta" L-1 Identity Solutions
  4. "2011 Washington Technology Top 100". Retrieved 10 December 2011.
  5. Rajghatta, Chidanand (30 March 2014). "Did IAF’s 'US-made' C-130J Super Hercules that crashed have fake Chinese parts?". indiatimes.com. TNN. Retrieved 30 March 2014.
  6. http://www.thefreelibrary.com/L-3+Communications+Acquires+Ship+Analytics,+Inc.-a096647948
  7. "L-3 MAPPS Company details". naval-technology.com. Retrieved 8 Jan 2011.
  8. "." L-3 Communications. Retrieved on May 24, 2010.
  9. "." Retrieved on Nov 24, 2014.
  10. "Flight Training News advert".
  11. http://www.l-3com.com/media-center/press-releases.html?pr_id=2054036
  12. Archived July 13, 2011 at the Wayback Machine
  13. Hodge, Nathan, "Spotlight On Private Firms At Pentagon", Wall Street Journal, June 12, 2010, p. 4.

External links

Coordinates: 40°44′57″N 73°58′33″W / 40.7492°N 73.9757°W / 40.7492; -73.9757

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