SatNews

Satellite Industry Intelligence Since 1983

Harris… Change Is Afoot (Comms)


Harris homepage
[SatNews] To meet ever-changing markets and to take advantage of expertise, Companies find the need to maneuver their resources to meet such challenges

Harris Corporation (NYSE:HRS) is strategically realigning its operating businesses to provide increased market focus and address the fast-growing global market for integrated communications and information technology and services. The realignment will enable the company to effectively integrate its technology, products and services to meet the demands of government and commercial markets. The three Harris segments are:
  • RF Communications – no change; includes the Tactical Communications and Public Safety and Professional Communications businesses. Provides tactical and land mobile radios, systems and networking applications for global defense, security, public safety and public service, transportation, and utility markets
  • Government Communications Systems – includes the Civil Programs, Defense Programs and National Intelligence Programs businesses. Provides communications and information technology and systems integration for mission-critical government applications
  • Integrated Network Solutions – includes the Harris IT Services, Harris CapRock Communications, Healthcare Solutions, and Cyber Integrated Solutions businesses (all of which were previously part of the Government Communications Systems segment), and the Broadcast Communications business. Provides IT services, managed services, cyber integration, interoperability, imaging, and digital media management solutions to support government, energy, healthcare, broadcast, and enterprise networks
    •
Integrated Network Solutions represents a new segment that combines the resources and capabilities of existing and recently acquired operations into a powerful organization targeting the fast-growing global market for highly reliable and secure communications and IT networks. The new segment will leverage the company’s strong and expanding technology and service capabilities – along with its growing global presence – to provide integrated solutions to meet individual customer and market needs. Harris is unique in its ability to integrate advanced technology and services to capture, aggregate, distribute, and analyze any type of communications or information – including voice, video, data, and imaging. Integrated Network Solutions builds on Harris’ legacy of creating and operating some of the world’s most trusted networks for customers in established markets including defense, intelligence, air traffic control, public safety, and broadcast. The company is extending this reach into new markets, including healthcare, energy, cloud computing, sports, entertainment, and retail venues. Harris customers operate under very demanding requirements where high reliability and secure communications is critical.

The company will report its financial results under the new segment structure effective with its third quarter of fiscal 2011, which ends April 1, 2011. Earnings Guidance The company has reiterated its previous guidance for non-GAAP net income for fiscal 2011 in the range of $4.80 to $4.90 per diluted share ($4.73 to $4.83 per diluted share on a GAAP basis). Fiscal 2011 non-GAAP earnings guidance excludes acquisition-related costs. Fiscal 2011 revenue is still expected to be at the high end of the $5.9 to $6.0 billion range, which represents a year-over-year increase of about 15 percent compared with the prior year.