Harris Reports Revenue, Income Increases For Q3
May 1, 2006 at 7:29 PM (PT)
HARRIs CORP. third fiscal quarter 2006 revenue rose 14% to $881.1 million and net income jumped from $55.8 to $72.5 million (40 to 52 cents/diluted share) (non-GAAP net income rose 45% to $81.1 million, or 58 cents/diluted share). Broadcast communications division revenue rose from $103.2 to $143.1 million, attributed to cost savings and increased digital orders, including HD RADIO equipment for CLEAR CHANNEL and CBS RADIO.
The company's non-GAAP earnings guidance for FY2006 has been increased from $2.05-$2.15/share to $2.13-$2.18/share. HARRIS also increased FY2007 earnings guidance to $2.50-$2.60/diluted share, about a 20% year-to-year increase.