- $218 million follow-on award from the U.S. Army to configure, maintain and monitor the Wideband SATCOM Operational Management System
- $195 million to develop the Optical Telescope Assembly for the WFIRST program, one of NASA's top-priority, large-scale missions
- $115 million classified space award to provide next-generation technology for a long-standing franchise
- $80 million from the Space Enterprise Consortium to develop next-generation GPS and space antenna technology for an experimental satellite with significant follow-on opportunities
In addition, Harris had its most active launch quarter to date:
- Three small satellites, including the first Harris small satellite (HSAT), showcasing the company's ability to provide end-to-end mission solutions for the fast-growing small satellite market
- GPS SV01, the first of 10 navigational payloads under the U.S. Air Force's GPS III satellite program
- Two international launches: GOSAT-2 for Japan's Ministry of the Environment and GEO-KOMPSAT-2 for the Korea Aerospace Research Institute
First half segment revenue increased 8% as double-digit growth from classified programs was partially offset by expected lower revenue from environmental programs. Operating income increased 7% on higher volume, partially offset by increased investments in innovation. Book-to-bill remained strong at 1.05.
|
Cash and Capital Deployment |
|||||||||||||||||||||||||||||||
| ($ millions) | Second Quarter | First Half | |||||||||||||||||||||||||||||
| FY 2019 | FY 2018 | Change | FY 2019 | FY 2018 | Change | ||||||||||||||||||||||||||
| Operating cash flow | $ | 352 | $ | 278 | $ | 74 | $ | 469 | $ | 373 | $ | 96 | |||||||||||||||||||
| Free cash flow 4 | $ | 316 | $ | 258 | $ | 58 | $ | 402 | $ | 330 | $ | 72 | |||||||||||||||||||
| Adjusted free cash flow 5 | $ | 323 | $ | 258 | $ | 65 | $ | 409 | $ | 330 | $ | 79 | |||||||||||||||||||
