Company: L3 Comm

(Reuters) - A U.S. appeals court on Friday revived two lawsuits accusing employees of two defense contractors of conspiring to torture and abuse Iraqis detained at the Abu Ghraib prison near Baghdad and at other locations.

WASHINGTON (Reuters) - Weapons makers reported higher quarterly earnings this week, with cost cutting helping them maintain solid profit margins, even as defense budget cuts began to drive down revenues in services and other areas.

L-3 Communications Holdings Inc.'s net income edged lower in the first quarter as governments spent less on its services.

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