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 EPS
3 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.
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Communication Systems
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($ millions)
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Second Quarter
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First Half
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FY 2019
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FY 2018
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Change
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FY 2019
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FY 2018
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Change
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Revenue
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$
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540
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$
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492
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10%
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$
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1,009
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$
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898
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12%
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Operating income
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$
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162
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$
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145
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12%
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$
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302
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$
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260
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16%
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Operating margin
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30.0
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%
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29.5
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%
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50bps
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29.9
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%
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29.0
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%
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90bps
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