Harris Corporation Reports Strong Fiscal 2018 Third Quarter Results with Revenue and Orders Growth Across All Segments

Third quarter segment revenue increased 1% as growth from Classified programs, driven by the ramp of small satellites, ground-based processing adjacency and space surveillance programs, was partially offset by expected lower revenue from environmental programs. Operating income increased 8% to $82 million and margins expanded 100 basis points on strong program execution and incremental pension income.

In Classified programs, order momentum remained strong. These orders included follow-on contracts supporting space asset protection and situational awareness capabilities, additional funding for a small satellite award announced in the first quarter of fiscal 2018 and a contract award from the National Geospatial-Intelligence Agency for geospatial imaging services.

Investments in technology have enabled Harris to successfully expand into a full mission provider for small satellites and strengthen its position as partner of choice for payloads in large exquisite satellite systems. The company continued to leverage its investments and was selected for a strategic multi-year contract of approximately $500 million for exquisite space systems.

 

Cash and Capital Deployment

 
($ millions)       Third Quarter     Year to Date
FY 2018     FY 2017     Change FY 2018     FY 2017     Change
Operating cash flow $ (143 ) $ 194 $ (337 ) $ 230 $ 489 $ (259 )
Adjusted operating cash flow* $ 157 $ 194 $ (37 ) $ 530 $ 489 $ 41
Adjusted free cash flow* $ 121 $ 164 $ (43 ) $ 451 $ 410 $ 41
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »
Featured Video
Jobs
Senior Principal Software Engineer for Autodesk at San Francisco, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Principal Engineer for Autodesk at San Francisco, California
Business Development Manager for Berntsen International, Inc. at Madison, Wisconsin
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Upcoming Events
Greenbuild 2024 at Pennsylvania Convention Center Philadelphia PA - Nov 12 - 15, 2024
Digital Construction North (DCN) 2024 at Manchester Central. Manchester United Kingdom - Nov 13, 2024
Digital Twins 2024 at the Gaylord National Resort & Convention Center in, MD. National Harbor MD - Dec 9 - 11, 2024
Commercial UAV Expo 2025 at RAI Amsterdam Amsterdam Netherlands - Apr 8 - 11, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise