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L-3 Communications (NYSE: LLL) announced today it completed the
acquisition of Global Communications Solutions, Inc., a leading
provider of portable satellite communications equipment and products,
on May 4, 2007. The acquired business, renamed L-3 GCS, has annual
sales of approximately $90 million, and is expected to be accretive to
L-3's earnings in 2007. L-3 GCS will be included in L-3's Specialized
Products segment. The acquisition was financed using cash on hand.
Located in Victor, NY, L-3 GCS is a leading provider of satellite
communications (SATCOM) systems that integrate data, broadband
internet, telephony, multimedia, audio, video and computer networking.
Its customers include the U.S. Department of Defense (DoD) and
Department of Homeland Security (DHS), as well as federal, state,
local and commercial customers.
Headquartered in New York City, L-3 Communications employs over
63,000 people worldwide and is a prime system contractor in aircraft
modernization and maintenance, C3ISR (Command, Control,
Communications, Intelligence, Surveillance and Reconnaissance) systems
and government services. L-3 is also a leading provider of high
technology products, subsystems and systems. The company reported 2006
sales of $12.5 billion.
To learn more about L-3 Communications, please visit the company's
web site at www.L-3Com.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
Except for historical information contained herein, the matters
set forth in this news release are forward-looking statements.
Statements that are predictive in nature, that depend upon or refer to
events or conditions or that include words such as "expects,"
"anticipates," "intends," "plans," "believes," "estimates," "could"
and similar expressions are forward-looking statements. The
forward-looking statements set forth above involve a number of risks
and uncertainties that could cause actual results to differ materially
from any such statement, including the risks and uncertainties
discussed in the company's Safe Harbor Compliance Statement for
Forward-looking Statements included in the company's recent filings,
including Forms 10-K and 10-Q, with the Securities and Exchange
Commission. The forward-looking statements speak only as of the date
made, and the company undertakes no obligation to update these
forward-looking statements.
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