Harris: Fiscal 2Q Earnings Snapshot
MELBOURNE, Fla. (AP) _ Harris Corp. (HRS) on Tuesday reported fiscal second-quarter profit of $225 million.
On a per-share basis, the Melbourne, Florida-based company said it had net income of $1.87. Earnings, adjusted for non-recurring costs, were $1.96 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The technology and communications company posted revenue of $1.67 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.64 billion.
Harris expects full-year earnings in the range of $7.90 to $8 per share.
Harris shares have increased 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5.5 percent. The stock has declined slightly more than 2 percent in the last 12 months.