Harris Corporation Reports Strong Fiscal 2019 Second Quarter Results With Revenue Growth and Margin Expansion Across All Segments

Revenue increased 9% for the quarter and the first half, with solid growth across all three segments. GAAP and non-GAAP EPS3 grew double digits for the quarter and the first half driven by higher volume, strong operational performance and a lower share count. A lower tax rate also contributed to first half EPS growth. In addition, GAAP EPS increased due to the absence of a one-time write down of deferred tax assets and an adjustment for deferred compensation recorded in the second quarter of fiscal 2018, partially offset by L3 deal and integration costs in the current quarter. Book-to-bill was 1.06 for the second quarter and 1.17 for the first half.

 

Communication Systems

 
 
  ($ millions)       Second Quarter     First Half
FY 2019     FY 2018     Change FY 2019     FY 2018     Change
Revenue $ 540 $ 492 10% $ 1,009 $ 898 12%
Operating income $ 162 $ 145 12% $ 302 $ 260 16%
Operating margin 30.0 % 29.5 % 50bps 29.9 % 29.0 % 90bps
 
 

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