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MarketScreener Homepage  >  Equities  >  Nyse  >  L3Harris Technologies, Inc.    LHX

L3HARRIS TECHNOLOGIES, INC.

(LHX)
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L3Harris Technologies : Providing US Army New Networked Night Vision Goggles with Advanced Mobility Capabilities

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10/14/2019 | 08:13am EST

Highlights:

  • Initial delivery of 40 combat-ready Enhanced Night Vision Goggle – Binocular
  • Improves soldiers’ situational awareness, mobility and protection
  • Part of initial order, with additional delivery orders subsequently received, under $391 million ENVG-B Directed Requirement contract

L3Harris Technologies (NYSE:LHX) has begun initial deliveries of its new Enhanced Night Vision Goggle – Binocular (ENVG-B) that provides U.S. Army soldiers with improved situational awareness, mobility and protection. The delivery is part of an initial order under a $391 million ENVG-B Directed Requirement contract from the U.S. Army received in 2018.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191014005357/en/

L3Harris delivered the first 40 combat-ready systems as part of an initial fielding that is expected to be completed by early 2020. This advanced binocular night vision goggle supports the Army’s Soldier Lethality Cross-Functional team priorities. The ENVG-B includes L3Harris’ high-performance white phosphor image intensification technology in a dual-tube goggle, as well as a separate thermal channel for image fusion and thermal target detection. This technology will enhance the ability to locate and engage threats and access common operating environment imagery.

“The ENVG-B is the result of a year-long collaboration with the U.S. Army to deliver the most advanced night fighting system ever fielded,” said Dana Mehnert, President, Communication Systems, L3Harris. “This is the first networked night vision system that brings battlefield imagery and data directly to the soldier’s eye, providing situational awareness beyond the capability of near-peer threats facing the U.S. military and our allies around the world.”

Following the delivery of the first 40 units, L3Harris received two additional delivery orders totaling approximately $153 million for nearly 7,000 additional systems and logistics support. Combined with the initial $88 million delivery order, L3Harris has received orders to deliver just over 10,000 ENVG-B systems under the Directed Requirement contract.

The ENVG-B includes a new high-resolution display and an embedded soldier wireless personal area network, rapid target acquisition and augmented reality algorithms to interface with the U.S. Army’s Nett Warrior. The complete system will interface with the Army’s family of weapon sights, while enhancing interoperability and data sharing.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $17 billion in annual revenue and 50,000 employees, with customers in 130 countries. L3Harris.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 system capabilities, contract values and number of systems to be delivered are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.


© Business Wire 2019
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Financials (USD)
Sales 2020 19 258 M
EBIT 2020 3 135 M
Net income 2020 2 221 M
Debt 2020 6 159 M
Yield 2020 1,65%
P/E ratio 2020 20,2x
P/E ratio 2021 16,6x
EV / Sales2020 2,57x
EV / Sales2021 2,40x
Capitalization 43 318 M
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Number of Analysts 17
Average target price 242,31  $
Last Close Price 195,95  $
Spread / Highest target 37,8%
Spread / Average Target 23,7%
Spread / Lowest Target 11,8%
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NameTitle
William M. Brown Chairman & Chief Executive Officer
Christopher Eugene Kubasik Vice Chairman, President & Chief Operating Officer
Jesus Malave CFO, Chief Accounting Officer & Senior VP
Omar Fathi Chief Information Officer & Vice President
Ross Niebergall Chief Technology Officer & Vice President
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