Harris Corporation: Outperforming The Defense Group And Approaching Fair Value [Seeking Alpha]
HARRIS (HRS)
Last harris earnings: 5/1 06:30 am
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US:NYSE Investor Relations:
harris.com/investors
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Source: Seeking Alpha
Summary Synopsis Harris Corporation ( HRS ) is a smaller sized defense and; delevering their debt load and reshaping their business to focus on core competencies of Communications Systems, Space and Intelligence Systems, and Electronic Systems. The stock has outperformed the Defense/Aerospace ETF ( ITA ) by 7% year to date and the share price is approaching fair value levels. The company is growing the top line in the mid to high single driven by strength in communication systems, management stated in the call: Communication Systems had a terrific year with revenue up 9% from strength in DoD Tactical and Night Vision. DoD Tactical revenue was up 46% in the quarter and 35% for the year driven by more than $100 million of readiness demand from the Army and the Air Force to support deployment of security forces overseas, with upgraded software-defined-radios. Order momentum was even stronger up 81% for the year to support readiness and the ramp of
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