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4-Traders Homepage  >  Equities  >  Nyse  >  Harris Corporation    HRS

Delayed Quote. Delayed  - 10/25 10:03:01 pm
90.71 USD   -0.62%
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Harris Corporation : Receives $55 Million Contract to Sustain US Air Force Electronic Warfare Technology for Large Aircraft

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10/24/2016 | 04:02pm CEST


  • Provides engineering services for ALQ-172 hardware redesign, software development and testing
  • Demonstrates U.S. Air Force commitment to sustaining cutting-edge protection for large aircraft
  • Continues decades of Harris support for electronic warfare system used on board B-52s, C-130s

Harris Corporation (NYSE:HRS) has received a four-year, $55 million contract to perform sustainment work on the electronic warfare system used by the U.S. Air Force to protect B-52s and C-130s from radar-guided threats. The contract was received during the first quarter of Harris' fiscal 2017.

Harris will redesign one of the ALQ-172’s Line Replaceable Units (LRU-1) as part of wider efforts to increase the electronic warfare suite’s reliability, supportability and availability.

“Hostile air defense systems are becoming more sophisticated and accessible in global conflict zones,” said Ed Zoiss, president, Harris Electronic Systems. “With the B-52 set to remain a key component of U.S. strategic airpower for the next two decades, it is essential that it be equipped with innovative electronic warfare technology capable of defeating future threats.”

In addition to a new LRU design, Harris will develop software, support customer testing and other solutions for the U.S. Air Force. In 2015, Harris received a series of orders to perform similar redesigns of other ALQ-172 subsystems, including LRU-4, LRU-7 and LRU-8.

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 100 countries and has approximately $7.5 billion in annual revenue and 21,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems and Critical Networks. Learn more at harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs are forward-looking and involve risk and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

© Business Wire 2016
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Financials ($)
Sales 2017 7 248 M
EBIT 2017 1 189 M
Net income 2017 701 M
Debt 2017 3 637 M
Yield 2017 2,35%
P/E ratio 2017 16,19
P/E ratio 2018 14,21
EV / Sales 2017 2,05x
EV / Sales 2018 1,95x
Capitalization 11 210 M
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Harris Corporation Technical Analysis Chart | HRS | US4138751056 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 101 $
Spread / Average Target 11%
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William M. Brown Chairman, President & Chief Executive Officer
Rahul Ghai Chief Financial Officer & Senior Vice President
James C. Stoffel Independent Director
Leslie F. Kenne Independent Director
David B. Rickard Independent Director
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