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Some time-domain methods available for the solution of 3-D Maxwell's equations, including explicit methods such as the Yee-FDTD method, the Symplectic-FDTD method and the Turkel-FDTD method, and implicit methods such as the ADI-FDTD method, can be derived through different approximation schemes of the Exponential Evolution Operator (EEO) in Maxwell's equations. In addition, another new unconditionally stable LOD-FDTD method is recently proposed. In this paper, the analysis shows that this LOD-FDTD method can also be derived out from the approximation of the EEO. The stability and numerical dispersion analysis of this new LOD-FDTD method is done in this paper.