Despite a 3% drop in sales in the final quarter of 2017, L3 realised an increase of 4% overall by the end of the year, totalling USD9.5 billion, company results revealed on 25 January.
Funded orders for the year increased by 5% to USD9.9 billion compared to USD9.5 billion for 2016, while funded backlog increased by 6% to USD8.8 billion by the end of 2017 compared to USD8.3 billion at the end of 2016.
However, funded orders for the fourth quarter of 2017 decreased by 10% to USD2.7 billion, down on the USD3 billion recorded for the same period in 2016.
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