Harris Corporation Reports Strong Fourth Quarter and Fiscal 2018 Results...Well Positioned to Accelerate Growth

Fourth quarter segment revenue increased 8% from growth in Avionics on increased F-35 production, in Electronic Warfare (EW) from F-16 and F/A-18 platforms and in C4ISR from the ramp of the U.K. robotics and UAE battle management programs. Operating income grew 14% to $119 million and margin expanded 100 basis points on higher volume and productivity.

Segment orders grew double digits for the fifth consecutive quarter led by strength in EW and Mission Networks. New awards continued to strengthen Harris' strategic position in EW on long-term platforms and included a $400 million, multi-year, sole source IDIQ contract to support international F-16s, with an initial order of $58 million from Turkey. In addition, Harris received a $44 million, follow-on development contract from the U.S. Air Force supporting B-52 countermeasure systems.

Harris also leveraged its highly successful FAA managed services model to capture a 15-year, $141 million systems integration contract to modernize India's air traffic management communications infrastructure, supporting growth in one of the world's largest aviation markets.

Full year segment revenue was up 5% with strong operating margin of 18.6% despite the unfavorable impact of ADS-B in the first half of the year. Orders were up 33% to $3.1 billion, including $1.1 billion on F-35, F/A-18 and F-16 platforms, resulting in a book-to-bill of 1.3.

                     

Space and Intelligence Systems

 
 
($ millions) Fourth Quarter Full Year
FY 2018 FY 2017 Change FY 2018 FY 2017 Change
Revenue $ 508 $ 506 % $ 1,921 $ 1,902 1 %
Operating income $ 86 $ 80 8 % $ 336 $ 311 8 %
Operating margin 16.9 % 15.8 % 110bps 17.5 % 16.4 % 110bps
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »
Featured Video
Editorial
Latest Blog Posts
Sanjay GangalMCADCafe Editorial
by Sanjay Gangal
MCADCafe Industry Predictions for 2025 – ProShop
Sanjay GangalMCADCafe Editorial
by Sanjay Gangal
MCADCafe Industry Predictions for 2025 – ModuleWorks
Jobs
Mechanical Engineer 3 for Lam Research at Fremont, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Engineer 2 for Lam Research at Fremont, California
Equipment Engineer, Raxium for Google at Fremont, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Upcoming Events
Collaborate North America 2025 at Novi MI - Jan 28, 2025
Celebrate Manufacturing Excellence at Anaheim Convention Center Anaheim CA - Feb 4 - 6, 2025
3DEXPERIENCE World 2025 at George R. Brown Convention Center Houston TX - Feb 23 - 26, 2025
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025



© 2025 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise