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Harris Broadcast Business ‘Dampened’

Harris Broadcast Business 'Dampened'

An anemic economy plus FCC actions to relax the DTV timetable are having an effect on revenue at Harris Corp.
The company issued an update to its “guidance” for financial analysts, reiterating that it expects 2003 net income per share of $1.30 to $1.40. Q2 expenses associated with cost reductions at its microwave division are excluded. The company is holding its annual meeting with security analysts this week.
Harris said its government communications systems and RF communications businesses are experiencing “even stronger revenue and operating performance than expected.” This, it stated, is offsetting weaker-than-expected broadcast business.