Last $77.68 USD
Change Today -0.06 / -0.08%
Volume 613.6K
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As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

harris corp (HRS) Key Developments

Harris Corporation Completes IT Infrastructure Installation and Integration for NOAA GOES-R Series Ground Segment

Harris Corporation has completed the computer hardware delivery, installation and integration supporting the operational systems of the Geostationary Operational Environmental Satellite R (GOES-R) Series Program ground segment at National Oceanic and Atmospheric Administration facilities in Maryland, Virginia and West Virginia. GOES-R Series Program satellites will be a primary tool for detecting and tracking hurricanes and other severe weather, and the first satellite, GOES-R, will be launched in March 2016. The GOES-R Series ground segment sends weather data products to the National Weather Service (NWS) Advanced Weather Interactive Processing System and the National Environmental Satellite Data, and Information Services (NESDIS) Product Distribution and Access (PDA) system. The data is distributed to NWS weather forecast offices and units of the National Centers for Environmental Prediction, the Department of Defense, and environmental product consumers. The system includes 2,100 servers, 149 racks of network equipment, 317 workstations, and storage services totaling three petabytes. The system also contains 454 blade servers with 3,632 cores for product processing and distribution across all environments, delivering approximately 40 trillion floating point operations per second of processing power. As part of the ongoing pre-launch testing, Harris demonstrated the ability to create weather products in five minutes versus the current 30-minute GOES operational capability. Forecasters will have critical input faster in order to speed forecasts and warnings for extreme weather, once the new instruments are brought online following GOES-R launch.

Harris Opens New Harris Technology Center

Harris Corporation announced opening of its new $130 million Harris Technology Center (HTC) and its 2015 Technology Expo showcasing the company’s most innovative technologies and solutions. The company kicks off the week with the formal opening of the new 464,000 square-foot HTC, which serves as the company’s Florida technology innovation hub, housing more than 1,400 engineers and staff. Construction of the center created nearly 300 local jobs. It is certified in highly efficient design and construction; contains conference facilities and engineering labs; and houses modern health and wellness facilities, including a gym and cafeteria. Featured guests during the Feb. 23 grand opening will include Florida Senator Bill Nelson and other national, state and local dignitaries.

Harris Corporation Presents at Barclays Industrial Select Conference, Feb-19-2015 10:35 AM

Harris Corporation Presents at Barclays Industrial Select Conference, Feb-19-2015 10:35 AM. Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami Beach, Florida, United States. Speakers: William M. Brown, Chairman, Chief Executive Officer and President.

Harris Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 2, 2015; Increases Earnings Guidance for Fiscal 2015

Harris Corporation announced unaudited consolidated earnings results for the second quarter and six months ended January 2, 2015. For the quarter, the company reported revenue from product sales and services was $1,206.3 million compared to $1,223.2 million for the same period a year ago. Income from continuing operations before income taxes was $189.2 million compared to $203.3 million for the same period a year ago. Income from continuing operations was $139.5 million compared to $137.1 million for the same period a year ago. Net income attributable to the company was $139.5 million or $1.32 per diluted share compared to $136.2 million or $1.26 per diluted share for the same period a year ago. Net income per diluted share attributable to the company from continuing operations was $1.34 compared to $1.27 for the same period a year ago. For the six months, the company reported revenue from product sales and services was $2,361.7 million compared to $2,415.1 million for the same period a year ago. Income from continuing operations before income taxes was $364.7 million compared to $391.1 million for the same period a year ago. Income from continuing operations was $264.6 million compared to $264.5 million for the same period a year ago. Net income attributable to the company was $264.6 million or $2.50 per diluted share compared to $262.0 million or $2.42 per diluted share for the same period a year ago. Net income per diluted share attributable to the company from continuing operations was $2.50 compared to $2.45 for the same period a year ago. Net cash provided by operating activities was $222.2 million compared to $279.5 million for the same period a year ago. Additions of property, plant and equipment was $79.1 million compared to $85.0 million for the same period a year ago The company increased its fiscal 2015 guidance for income from continuing operations from a range of $4.75 to $5.00 per diluted share to a range of $4.95 to $5.05 per diluted share. Fiscal 2015 revenue guidance is unchanged and expected to decline 1% to 3% compared with the prior year. Fiscal 2015 guidance does not include the impact of Harris’ pending acquisition of Exeli.

Harris Corporation Wins USD 98 Million Contract for Alaska Flight Services System

Harris Corporation announced the award of a 10-year contract, valued at an expected USD 98 million, by the Federal Aviation Administration (FAA). Under this contract, the company will upgrade and manage the system that provides real-time weather data and flight-planning capabilities for Alaska's general aviation community. This contract includes three base years and seven one-year options. Under the Operational and Supportability Implementation System (OASIS) II programme, the company will provide integrated flight planning and real-time weather briefing capabilities to FAA Flight Service specialists. OASIS also supports Notice to Airmen messages, which alert pilots to potential hazards and provides up-to-date radar and satellite imagery. Also, as a part of the contract the company also will provide system test and maintenance support services.

 

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Price/Book 4.5x
Price/Cash Flow 15.1x
TEV/Sales 1.2x
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