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MarketScreener Homepage  >  Equities  >  Nyse  >  Harris Corporation    HRS

HARRIS CORPORATION (HRS)
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Harris Corporation : to Enhance Soldier Radio Waveform for U.S. Department of Defense

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11/19/2013 | 09:10am EST

Highlights:

  • Broadens capabilities of Soldier Radio Waveform for wideband networking.
  • Provides faster mission plan updates to full battlefield radio network.
  • Demonstrates Harris' leadership in DoD's continued rollout of the wideband tactical network.

The U.S. Department of Defense (DoD) has selected Harris Corporation (NYSE:HRS) to enhance the capabilities of the military's Soldier Radio Waveform (SRW). The Army awarded Harris $9 million in orders to make improvements to SRW under the 2012 SRW Software In-Service Support Indefinite Delivery, Indefinite Quantity contract. The orders were received during the first quarter of fiscal 2014.

SRW is an open-standard voice and data waveform used to extend battlefield networks to the tactical edge. Harris will incorporate features that make it easier and faster to port the SRW software to a wide range of radios, reducing development costs. Several features under contract will simplify the operation and management of the SRW network.

"The U.S. government is leveraging Harris' leadership and expertise in tactical communications to provide the warfighter with greater operational capability in wideband networking,'' said George Helm, president, Department of Defense business, Harris RF Communications. "These are the first of many enhancements that will strengthen the performance of SRW and address evolving mission requirements.''

The enhancements developed by Harris will be placed in the Joint Tactical Networking Center Information Repository, which facilitates software re-use in DoD tactical radios.

Harris has industry-leading expertise in SRW, including waveform porting, testing, validation and certification. Both the Harris Falcon III® AN/PRC-117G and AN/PRC-152A are Joint Tactical Radio System (JTRS) and NSA Type-1 certified for SRW implementation. Additionally, Harris has integrated the AN/PRC-117G and AN/PRC-152A with the JTRS Joint Enterprise Network Manager to assure interoperability with tactical radios developed by other vendors.

Harris RF Communications is the leading global supplier of secure radio communications and embedded high-grade encryption solutions for military, government and commercial organizations. The company's Falcon® family of software-defined tactical radio systems encompasses manpack, handheld and vehicular applications. Falcon III® is the next generation of radios supporting the U.S. military's JTRS requirements, as well as network-centric operations worldwide. Harris RF Communications is also a leading supplier of assured communications® systems and equipment for public safety, utility and transportation markets -- with products ranging from the most advanced IP voice and data networks to portable and mobile single and multiband radios.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and about 14,000 employees -- including 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems and services. Additional information about Harris Corporation is available at harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected value of the program to Harris are forward-looking and involve risks and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

RF Communications
Ben Rand, 585-241-8187
Ben.Rand@Harris.com
or
Corporate Headquarters
Jim Burke, 321-727-9131
Jim.Burke@harris.com


© Business Wire 2013
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Financials ($)
Sales 2019 6 638 M
EBIT 2019 1 282 M
Net income 2019 944 M
Debt 2019 3 180 M
Yield 2019 1,94%
P/E ratio 2019 17,72
P/E ratio 2020 15,55
EV / Sales 2019 2,95x
EV / Sales 2020 2,73x
Capitalization 16 384 M
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Number of Analysts 13
Average target price 176 $
Spread / Average Target 26%
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William M. Brown Chairman, President & Chief Executive Officer
Sheldon J. Fox Senior VP-Operations & Information Technology
Rahul Ghai Chief Financial Officer & Senior Vice President
Ross Niebergall Chief Technology Officer & Vice President
Leslie F. Kenne Independent Director
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