[SatNews] Another year of revenue and earnings growth is expected...

Harris Corporation (NYSE: HRS) has provided initial non-GAAP net income guidance for fiscal year 2012, beginning July 2, 2011, of $5.10 to $5.20 per diluted share ( $4.93 to $5.03 per diluted share on a GAAP basis), an increase of 5 to 7 percent, compared with the mid-point of fiscal 2011 non-GAAP guidance. Non-GAAP guidance for fiscal 2011 and fiscal 2012 excludes acquisition-related costs. Revenue for fiscal 2012 is expected to be in a range of $6.4 billion to $6.6 billion, representing an increase of 7 to 10 percent above the fiscal 2011 guidance stated below. The company announced the initial guidance in advance of its annual analyst meeting, scheduled for March 17-18 in Melbourne, Florida. Guidance for both fiscal 2011 and 2012 reflects the inclusion of the Schlumberger Global Connectivity Services business and Carefx acquisitions, which are expected to close in early April 2011. Including these acquisitions, fiscal 2011 guidance for non-GAAP net income is expected to be in the range of $4.80 to $4.90 per diluted share ( $4.61 to $4.71 per diluted share on a GAAP basis) and revenue is expected to be approximately $6.0 billion. To read the entire release, access this direct link.