L-3 Communications Holdings, Inc. Q4 2007 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2008-01-31 11:49:14.0

Tags: L-3 Communications Holdings Inc.

Question-and-Answer Session

Operator

Your first question comes from Cai von Rumohr - Cowen and Company.

Cai von Rumohr - Cowen and Company

Can you give us some update on the Linguist? You had mentioned that basically the situation is in some turmoil, but can you frame that a little bit for us?

Michael T. Strianese

Sure Cai. As you recall, since we have spoken last, let me just get the frame of reference when we last spoke. We announced in December, if I’m not mistaken, we did not win the source selection. However, after evaluating the debrief, we did protest again because we felt most source selection criteria was not followed again. This time instead of taking 100 days, it took 30 days for the Army to voluntarily agree to take corrective action, yet again.

So, that’s the state of play at the moment. Yesterday revised proposals were submitted. We don’t know the exact timing of another award decision. But I wouldn’t expect it to take too long. As you know further, it is not in our plan for 2008. The fact that the source selection criteria has not been followed is the cause of the protest. So we had to spend a lot of time putting these documents together that are literally thousands of pages, which is very expensive and time consuming.

So, it is important to us. We don’t mind losing. We win programs and lose programs all the time. But it is important to me personally that the criteria, that the rules that were laid out are the rules that are followed. That has not been the case today, which is why we’ve won three protests in a row. So we hope that this gets resolved in a timely fashion. We’re willing to help in the transition in any way we can, and of course, we continue to work on the program, which is a difficult program in terms of recruiting people because many of these individuals are targeted for assassination by insurgents and it has been getting increasingly difficult to recruit people in countries for these roles.

So, that is everything I know. We will, of course, let everybody else know -- our investment community and shareholders and stakeholders -- as soon as we know. We put press releases out very quickly when we get information, and we expect to do that in this case as well.

Cai von Rumohr - Cowen and Company

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement
Click Here