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Harris Bumps Up Fiscal Guidance

Harris Bumps Up Fiscal Guidance

Harris Corp. this week gave financial analysts an upbeat forecast for its fiscal year ending June 30, 2006, increasing its “initial guidance” from $3.25 to $3.35 per diluted share.
Company-wide, said CEO Howard Lance, “In fiscal year 2006, we expect to achieve revenue growth for the company in a range of 8-10 percent higher than fiscal year 2005.”
While pressure remains on federal budgets, he said, the company expects its government communications systems business will outperform the market.
“Revenue and profitability improvements are expected to continue in our broadcast and microwave businesses, which are benefiting from cost reduction actions, some recovery in international markets, and new product launches,” he stated.
The company is holding its annual analyst meeting in Melbourne, Fla., this week.