The Latest in IT Security

L-3 Communications fires four for misconduct in aerospace unit

31
Jul
2014

L-3 Communications Holdings Inc said it fired four employees as part of an ongoing internal review that revealed overstatement of net sales and deferred cost overruns in the companys aerospace business. L-3 cited misconduct and accounting errors including concealment from L-3s corporate staff at its aerospace systems business for the overstatement and deferred cost overruns. We have no reason to believe that this issue occurred at any other segment of the company, Chief Executive Michael Strianese said on a conference call with analysts. The company also cut its 2014 operating margin forecast for the aerospace systems business to 9.0-9.2 percent from 10.6-10.8 percent.

Comments are closed.

Categories

SUNDAY, SEPTEMBER 22, 2019
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments

Social Networks