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Harris Says Broadcast Revenue Was Strong in Q4

Big TV order in Turkmenistan helps

The broadcast business at Harris Corp. “continued to show strong momentum” in the fourth quarter, the company said.

It released its latest financial numbers. Harris said broadcast revenue was up 31% compared to a year ago. The Broadcast Communications business is now part of the Integrated Network Solutions segment of the corporation. Revenue for that segment was up 7% not counting acquisitions.

Broadcast contracts in the quarter included $16 million in orders from Turkmenistan TV for broadcast products to upgrade its country-wide broadcast network.

Parent Harris Corp. said revenue in Q4 was up 15% to $1.67 billion. For the full year, Harris revenue was up 14% to $5.92 billion. The company board approved a $1 billion share repurchase authorization and increased its quarterly cash dividend to shareholders, saying the move reflects “confidence in our financial strength and positive long-term outlook.”

Related:
Harris Realigns Its Business Segments (March 2011)

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