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Harris Broadcast Revenue Drops in Q3

Cites global recession, soft radio market among the factors

Broadcast revenue was down 17% in the third fiscal quarter at Harris Corp. compared to a year earlier.

The company said the broadcast unit brought in $132 million. Operating income was $2 million compared with $7 million a year ago.

“The global recession and postponement of capital projects further weakened demand,” the company stated. “However, the impact of lower revenue on operating performance in the third quarter was mitigated by on-going cost-reduction actions.”

Harris said revenue declined in both U.S. and international markets and was lower “primarily as a result of declining sales in Infrastructure and Networking Solutions where the impact of the global market softness was most significant. Transmission Systems sales were modestly lower as a result of softness in the global radio market. Media and Workflow sales were flat, with weakness in U.S. and international traffic systems, offset by higher sales of media server products.”

The parent company this week reported net income for the quarter of $114 million, compared with $108 million a year ago. Revenue for the third quarter overall was $1.36 billion compared with $1.33 billion for the prior-year quarter.