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

Second quarter revenue increased 10% from strong growth in all three businesses. Tactical Communications revenue grew 9%, with International up 11% from solid growth in Asia Pacific and Europe, and DoD up 7% on modernization demand. Night Vision and PSPC grew double digits as strong orders continued to convert into revenue. Operating income grew 12%, and margin expanded 50 bps to 30.0% from volume leverage and operational efficiencies, partially offset by mix. Orders were up 33% resulting in a segment book-to-bill of 1.18.

Tactical Communications orders grew 27% driven by DoD modernization, content growth in the adjacent airborne market and international programs to counter evolving threats. Key awards included $75 million from the U.S. Marine Corps for MUOS software upgrades on 117G manpack radios and a $66 million order for Small Tactical Terminals supporting domestic and international airborne platforms.

Public Safety continued to strengthen its position with state and federal agencies and utilities with a $33 million order from Nevada as part of a $108 million program to upgrade the statewide shared radio system; a $23 million order from the Air National Guard as it continues to adopt Harris converged radios; and $25 million from American Electric Power, the third award in its $106 million multi-year modernization program.

First half segment revenue increased 12% from double-digit growth in all three businesses. Operating margin expanded 90 bps to 29.9%. Segment book-to-bill was strong at 1.28. Tactical Communications book-to-bill was 1.32 with funded backlog greater than $1.1 billion.

 

Electronic Systems

 
 
  ($ millions)       Second Quarter     First Half
FY 2019     FY 2018     Change FY 2019     FY 2018     Change
Revenue $ 617 $ 582 6% $ 1,206 $ 1,123 7%
Operating income $ 117 $ 97 21% $ 232 $ 206 13%
Operating margin 19.0 % 16.7 % 230bps 19.2 % 18.3 % 90bps
 
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
SEMICON Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise