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Taxes Take A Bite Out Of L3Harris’ Income, Sales Eke Out A Gain In Third Quarter

Cal Biesecker By
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Taxes Take A Bite Out Of L3Harris’ Income, Sales Eke Out A Gain In Third Quarter
L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

L3Harris Technologies [LHX] last Friday posted a slight decline in third quarter earnings due to higher taxes and sales edged up despite headwinds from the coronavirus and the sale of a business unit. Net income fell a percent to $430 million, $1.98 earnings per share (EPS), from $435 million ($1.90 EPS) a year ago. Per share earnings were higher on a lower share count. Higher taxes trimmed off an otherwise solid bottom-line performance at the operating level where profit was…

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