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Business Description
L-3 Communications Holdings, Inc. (L-3) is a supplier of a range of products used in a number of aerospace and defense platforms. It is also a supplier of subsystems on platforms, including those for secure communication networks; mobile satellite communications; information security systems; shipboard communications; naval power systems; fuses and safety and arming devices for missiles and munitions; microwave assemblies for radars and missiles; telemetry and instrumentation, and airport security systems. In addition, the Company is a prime system contractor for aircraft modernization and maintenance; intelligence, surveillance and reconnaissance (ISR) collection platforms; simulation and training, and government systems support services. L-3's four operating segments include Secure Communications and ISR; Training, Simulation and Support Services; Aviation Products and Aircraft Modernization, and Specialized Products. In December 2004, the Company acquired Cincinnati Electronics.

Financial Information
For the fiscal year ended 12/31/04, sales rose 36% to $6.9 billion. Net income rose 38% to $381.9 million. Results reflect acquisitions, strong demand for secure communications systems, and lower losses on extinguishment of debt.