Harris Sees Improved Earnings Ahead

Harris Sees Improved Earnings Ahead
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Harris Corp. thinks it will do better in earnings this fiscal year than earlier expected.
The company adjusted its earnings-per-share guidance to investors for the fiscal year that ends in July. It expects net income in the range of $1.85 to $1.95 per diluted share instead of $1.50 to $1.65 as previously estimated.
The company cites growth in its government communications systems and RF communications segments, as well as the effects of cost-cutting.
Harris also revealed preliminary results for the second quarter. Earnings are expected to be 50 cents per diluted share, compared to 25 cents a year earlier. Revenue in the quarter is expected to be $605 million, up from to $524 million in the prior Q2.