L-3 Communications Holdings, Inc. is a merchant supplier of sophisticated secure communication systems and specialized products. The Company derives all of its operating income and cash flow from its wholly owned subsidiary, L-3 Communications. The Company produces secure, high-data-rate communication systems, training and simulation systems, engineering development and integration support, avionics and ocean products, fuzing products, telemetry, instrumentation, space and guidance products and microwave components. These systems and products are critical elements of virtually all major communication, command and control, intelligence gathering and space systems. The Company's systems and specialized products are used to connect a variety of airborne, space, ground- and sea-based communication systems, and are used in the transmission, processing, recording, monitoring and dissemination functions of these communication systems.