Harris Hayday, Financially Speaking

Harris Corporation [NYSE: HRS] reported their revenue for the first quarter of fiscal year 2008 increased 30 percent to $1.2 billion, compared to $947 million in the prior- year quarter. Organic revenue growth was 13 percent. Orders in the first quarter of fiscal 2008 were $1.4 billion, an increase of 24 percent compared to the prior-year quarter. Net income was $100 million, or $.73 per diluted share, compared to $83.9 million, or $.60 per diluted share, in the prior-year quarter. Non-GAAP net income, excluding acquisition-related costs, was $104 million, or $.76 per diluted share, compared to $96.8 million, or $.69 per diluted share, in the prior-year quarter. The prior-year quarter benefited from a favorable tax settlement of $12 million, or $.08 per diluted share—Melbourne, Florida