There's communications, then there's communications. Interstate Electronics Corporation (IEC) helps defense companies accurately get their point across. A subsidiary of L-3 Communications, IEC makes ruggedized test instruments and missile tracking systems for ballistic missile programs such as the US Navy's Fleet Ballistic Missile (FBM) system. Other products include ruggedized displays for industrial and military use and GPS receivers. The company has been involved in the defense system of the U.S. Navy's Fleet Ballistic Missile Program for more than 50 years.
The company maintains field service and marketing sites worldwide. L-3 Communications generates roughly 80% of its revenue from the US.
IEC operates as a part of the Electronic Systems segment of the parent company.
Sales and Marketing
The company relies heavily on government contracts. About 75% of L-3 Communications' revenue came from the US Government during fiscal 2013.
The Electronic Systems segment contributed about 45% of L-3 Communications' total revenue in 2013. This segment's overall sales decreased by 3% in 2013 due to less demand from its microwave products due to reduced deliveries of power devices for commercial satellite communication systems and mobile and ground-based satellite communication systems for the US military as programs ended.