Harris Government Communications Post Revenue Gains
[Satellite Today – 4-29-08] Harris Corp.‘s government communications systems segment increased revenue by 27 percent in the company’s 2008 fiscal third quarter, Harris announced April 29.
The segment posted $490.6 million in revenues for the quarter ending March 28, compared to $387.6 million in 2007. Operating income for the quarter was $6 million, compared to $45 million a year ago. The decrease was due to a $47 million charge for commercial satellite reflector programs.
Overall, Harris increased revenue by 24 percent in the third quarter to $1.3 billion, while income fell from $215 million a year ago to $108 million in the most recent quarter.
“Even with the impact of the commercial reflector charge, Harris generated excellent earnings in the quarter,” Howard Lance, the company’s chairman, president and CEO, said in a statement. “Orders were particularly strong and our growing backlog should provide excellent momentum entering fiscal 2009.”