L-3 Sales, Profit Fall

L-3 Communications' profit tumbled 38 percent in its most recent quarter to hit $105 million, the company announced today.

The contractor's quarterly sales reached $2.7 billion, down about 8 percent from the same three-month period a year earlier. The company's sales to the U.S. government declined 10 percent, which L-3 attributed to the drawdown in Afghanistan and federal budget reductions.

Sales to international and commercial customers also declined, the company said, "primarily due to the weakening of the Euro against the U.S. dollar."