L3HARRIS TECHNOLOGIES, INC.

(LHX)
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08/04L3HARRIS TECHNOLOGIES, INC. /DE/ : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)
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L3Harris Infrared Space Technology to Enhance Battlefield Imagery and Missile Defense Detection

06/30/2022 | 03:54pm EDT

Highlights:

  • Enhanced Infrared instrument will provide superior resolution to collect battlefield information
  • Wide-field-of-view satellite will scan large area of Earth for potential missile launches
  • Data to inform future space-based missile defense missions and architectures

A L3Harris Technologies (NYSE:LHX) infrared instrument set to launch June 30 will significantly improve the ability to capture high-resolution imagery and other important battlefield information from space – a critical capability for the nation’s future missile defense efforts.

L3Harris is providing the instrument as part of a wide-field-of-view satellite that also will help inform future space-based missile defense missions and architectures. The satellite will be positioned 22,000 miles from Earth, enabling the infrared system to see a wide swath and patrol a large area for potential missile launches.

“The L3Harris instrument can stare continuously at a theater of interest to provide ongoing information about the battlespace, which is an improvement over legacy systems,” said Ed Zoiss, President, Space & Airborne Systems, L3Harris. “It also provides better resolution, sensitivity and target discrimination at a lower cost.”

The instrument was built for Space Systems Command and is integrated into a Millennium Space Systems satellite, scheduled to launch from Cape Canaveral, Florida. The payload, which is more than six feet tall and weighs more than 365 pounds, was developed in Wilmington, Mass.

L3Harris is prioritizing investments in space-based missile defense programs and has accelerated the development of resilient, end-to-end satellite solutions in spacecraft, payloads and ground software, and advanced algorithms.

In a related effort, the Missile Defense Agency awarded L3Harris a missile-tracking study contract in 2019 and the prototype demonstration in January 2021. In December 2020, the Space Development Agency selected L3Harris to build and launch four space vehicles to demonstrate the capability to detect and track ballistic and hypersonic missiles.

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 space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 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 the value or expected value of orders, contracts or programs 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 2022
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Financials (USD)
Sales 2022 17 345 M - -
Net income 2022 2 053 M - -
Net Debt 2022 6 119 M - -
P/E ratio 2022 21,8x
Yield 2022 1,97%
Capitalization 44 346 M 44 346 M -
EV / Sales 2022 2,91x
EV / Sales 2023 2,74x
Nbr of Employees 47 000
Free-Float 99,6%
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Christopher Eugene Kubasik Chairman & Chief Executive Officer
Michelle L. Turner Chief Financial Officer & Senior Vice President
Ross Niebergall Chief Technology Officer & Vice President
Jacqueline Nevils Chief Information Officer & Vice President
Byron Green Vice President-Global Operations
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