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Satnews Daily
May 5th, 2011

Harris... Financially Speaking...


[SatNews] Harris Corporation (NYSE: HRS) reported revenue in the third quarter of fiscal 2011 of $1.41 billion, a 6 percent increase compared with $1.33 billion in the prior-year quarter.

GAAP net income in the third quarter of fiscal 2011 was $140 million, or $1.09 per diluted share, compared with $166 million, or $1.26 per diluted share, in the prior-year quarter. Non-GAAP net income in the third quarter of fiscal 2011 was $149 million, or $1.16 per diluted share, compared with $170 million, or $1.29 per diluted share, in the prior-year quarter. Both revenue and net income in the prior-year quarter benefited significantly from large shipments of tactical radios to equip MRAP (Mine Resistant Ambush Protected) vehicles for Afghanistan and the resulting favorable product mix. Orders in the third quarter were $1.55 billion and exceeded revenue. Orders in the prior-year quarter were $1.45 billion. To read the entire financial report, access this direct infolink.