Harris Reports Growth in Broadcast Biz

Q3 revenue was up 9%
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Broadcast revenue at Harris Corp. was up 9% in its third quarter.

Its radio and TV equipment business is now part of a new Integrated Network Solutions segment of the company, as RW has reported; that overall segment reported revenue of $463 million in the quarter compared with $376 million at the same time last year.

The Broadcast Communications piece of that segment was up 9 percent in the three-month period, which the company termed “strong” growth.

Chairman Howard Lance said the INS segment “is well positioned to deliver future revenue growth and margin expansion as we expand into attractive commercial markets including healthcare, energy, new media, cloud computing, and IT services. We are taking our proven products and capabilities to markets where advanced communications and information technologies are in high demand.”

The parent company, Harris Corp., reported revenue in the third quarter of $1.41 billion, a 6% increase compared to the same period a year ago, though net income was off; the company cited slowing U.S. government spending and a “difficult” comparison to the prior-year third quarter.

Lance said that “despite some headwinds,” he is confident about revenue and earnings heading toward its next fiscal year.

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