Harris: Fiscal 4Q Earnings Snapshot
MELBOURNE, Fla. (AP) _ Harris Corp. (LHX) on Wednesday reported fiscal fourth-quarter earnings of $268 million.
The Melbourne, Florida-based company said it had profit of $2.20 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.44 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.30 per share.
The technology and communications company posted revenue of $1.87 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.8 billion.
For the year, the company reported profit of $949 million, or $7.86 per share. Revenue was reported as $6.8 billion.
Harris shares have increased 48% since the beginning of the year. The stock has climbed 33% in the last 12 months.