Q2 Earnings Leap For Harris Corp.
January 31, 2008 at 5:48 AM (PT)
Communications and information technology provider HARRIS CORP. said WEDNESDAY its fiscal 2008 second-quarter earnings leaped 22% on growth across most business segments, led by its tactical radio business. The company earned $114.3 million, or 83 cents per share, compared with $94 million, or 67 cents per share, in the year-ago quarter.
Adjusted to exclude acquisition-related costs, earnings increased 26% to $120 million, or 87 cents per share, compared with $95 million, or 68 cents per share, in the prior-year quarter.
Revenue surged 30 percent to $1.32 billion, from $1.02 billion a year earlier.
The company said its RF Communications tactical radio business drove growth for the quarter, and it expects that segment's success to drive full-year earnings and revenue.