Comments by CEO boost L-3 shares

Shares of L-3 Communications Holdings Inc., the largest supplier of translators for the U.S. Army, rose 3.1 percent Monday after the Financial Times said Chief Executive Officer Michael Strianese would consider any bids for the company.

Strianese said in an interview that he isn't actively marketing the company and hadn't received approaches, though he would be duty-bound to consider any approaches, the FT reported.

Strianese won the post a week ago after serving as interim chief since co-founder Frank Lanza's death in June. In an interview with Bloomberg upon his appointment, Strianese said the company would consider bids and wasn't looking to sell.

L-3 has gained as wars in Afghanistan and Iraq stoke demand for its battlefield communications, translators and training systems. The company also won some of a $2.5 billion Homeland Security project to secure the U.S. border.

Communications Systems-West, the Salt Lake division of L-3, employs 2,300 people in Utah.

The stock gained $2.46 to close at $81.14 on the New York Stock Exchange. The shares have gained 9.1 percent this year.

L-3 on Oct. 26 said third-quarter profit rose 21 percent. Growth will slow in coming years to about 7.5 percent, the FT said, citing Strianese.

"Continuing to grow the company at a rate of $10 billion at a time is not going to be productive," Strianese told the FT. "Growing so rapidly over the past nine years has been a huge success, but it also meant that focusing on synergies was not the priority."

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Contributing: Scott Hamilton