Tactical radios lead Harris growth
By
Nick Wakeman
Company tops $5.2 billion in annual revenue and expects 2011 to approach $6 billion as tactical communications offerings experience strong growth.
Harris Corp. ended its fiscal 2010 on a high note with higher income from continuing operations and a boost in revenue.
For the year, Harris reported $5.21 billion in revenue, compared to $5.01 billion for its fiscal 2009. Income from continuing operations reached $562 million, compared to $312 million a year ago.
For the fourth quarter, Harris reported revenue of $1.46 billion compared to $1.29 billion for the same quarter last year.
The company pointed out strong growth from its RF Communications unit, which saw increases in demand for its tactical communications and public safety and professional communications offerings.
Another sign of success for Harris was its strong cash flow. The company reported that it generated $803 million in fiscal 2010, compared with $667 million in 2009.
The results do not include its recent acquisition of CapRock Communications, which will add to the company’s communications offerings. Harris acquired the company for $525 million.
The company projected that its fiscal 2011 revenue will be in the $5.9 billion to $6 billion range.
Harris is ranked No. 13 on the Washington Technology 2010 Top 100 list of the largest government contractors.