L-3 Communications has launched a new share repurchase program. As a part of the new program, the New York-based company will buy back an additional $1.5 billion of its common stock through April 30, 2013. The program may be funded by using the company’s cash on hand and cash generated from operations. L-3 supplies command and control, communications, intelligence, surveillance and reconnaissance systems and products, avionics, ocean products, training devices and services, instrumentation, space and navigation products.
Click here for the release from L-3 Communications.