Harris: Fiscal 4Q Earnings Snapshot

July 31, 2018

MELBOURNE, Fla. (AP) _ Harris Corp. (HRS) on Tuesday reported fiscal fourth-quarter earnings of $217 million.

The Melbourne, Florida-based company said it had net income of $1.79 per share. Earnings, adjusted to account for discontinued operations, came to $1.78 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.

The technology and communications company posted revenue of $1.67 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.62 billion.

For the year, the company reported profit of $718 million, or $5.92 per share. Revenue was reported as $6.18 billion.

Harris expects full-year earnings to be $7.65 to $7.85 per share, with revenue in the range of $6.53 billion to $6.65 billion.

Harris shares have increased 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 5 percent. The stock has increased 31 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HRS at https://www.zacks.com/ap/HRS

Update hourly