Harris Corporation (NYSE:HRS) reported revenue for the second quarter of fiscal 2011 of $1.44 billion, an 18 percent increase compared with $1.22 billion in the prior-year quarter. Organic revenue growth was 9 percent after adjusting for the impact from acquisitions. GAAP net income for the second quarter of fiscal 2011 was $151 million, or $1.18 per diluted share, compared with $140 million, or $1.06 per diluted share, in the prior-year quarter. Earnings benefited $0.05 per diluted share in the quarter from the extension of the federal research and development tax credit, including its catch-up effect. Non-GAAP net income in the second quarter of fiscal 2011 was $155 million, or $1.20 per diluted share, a 12 percent increase compared with the prior-year quarter of $142 million, or $1.07 per diluted share. Non-GAAP net income excludes acquisition-related costs in both quarters. Orders in the second quarter were $1.41 billion, compared with $1.42 billion in the prior-year quarter. The prior year benefited significantly from tactical radio orders for MRAPs and M-ATVs (Mine Resistant Ambush Protected All-Terrain Vehicles) for the U.S. Department of Defense. To read the entire financial report, access this direct link.


