ISR order momentum continued with over $800 million in orders across the Big Safari fleet, including $268 million for aircraft modification, training and sustainment for the Rivet Joint reconnaissance aircraft, strengthening the company's position as partner of choice for aircraft missionization with the U.S. Air Force.
Domestic and international demand for L3Harris electro-optical systems remained strong as continued funding support for the U.S. Army's Shadow UAV program led to a $35 million order for WESCAM sensor suites, bringing funding-to-date to $78 million against a $454 million sole-source IDIQ. Additionally, the company reinforced its incumbency with international customers, receiving $76 million in orders for electro-optical systems from several NATO allies and Middle East customers.
In addition, the company extended its long-standing position as Canada's premier in-service support integrator, and received over $100 million in awards from the Canadian Department of National Defence for fleet maintenance and sustainment solutions in support of CF-18 and CP-140 aircraft.
In Maritime, the company leveraged its expertise in power systems and was awarded contracts for $124 million and $75 million on the Virginia class and Columbia class submarines, respectively.
This order momentum resulted in a segment funded book-to-bill of 1.37 for the quarter and 1.09 since the merger.
Space and Airborne Systems
|
|
|
|
|
|
|
|
||||
|
($ millions) |
First Quarter |
|
||||||||
|
|
1Q20 |
|
1Q19 |
|
Change |
|
||||
|
(GAAP to GAAP comparison) |
|
|
|
|
|
|
||||
|
Revenue |
$ |
1,192 |
|
|
$ |
956 |
|
|
25% |
|
|
Operating income |
$ |
221 |
|
|
$ |
174 |
|
|
27% |
|
|
Operating margin |
18.5 |
% |
|
18.2 |
% |
|
30bps |
|
||
|
|
|
|
|
|
|
|
||||
|
(GAAP to pro forma comparison) |
|
|
|
|
|
|
||||
|
Revenue |
$ |
1,192 |
|
|
$ |
1,112 |
|
|
7% |
|
|
|
Operating income |
$ |
221 |
|
|
$ |
198 |
|
|
12% |
|
|
|
Operating margin |
18.5 |
% |
|
17.8 |
% |
|
70bps |
|
||
|
|
|
|
|
|
|
|
|
||||
