L3Harris Reports Strong Harris Standalone Fourth Quarter and Fiscal 2019 Results...Initiates L3Harris Calendar Year 2019 Guidance

Full-year segment revenue increased 14% from strong growth in all three businesses with an overall book-to-bill of 1.10. Tactical revenue grew 14%, with DoD up 31% and international up 3%, and funded backlog increased by 16% to $1.1 billion. Segment operating margin expanded 30 bps to 30.0%.

Electronic Systems

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ millions)

Fourth Quarter

 

Full Year

 

 

 

FY 2019

 

FY 2018

 

Change

 

FY 2019

 

FY 2018

 

Change

 

 

Revenue

$

728

 

 

$

636

 

 

14%

 

$

2,583

 

 

$

2,365

 

 

9%

 

 

Operating income

$

144

 

 

$

118

 

 

22%

 

$

499

 

 

$

432

 

 

16%

 

 

Operating margin

19.8

%

 

18.6

%

 

120bps

 

19.3

%

 

18.3

%

 

100bps

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fourth quarter revenue increased 14% from sustained strong growth on long-term platforms – F-35, F/A-18 and F-16, partially offset by the UAE Emirates Land Tactical System program transition timing. Operating income grew 22% to $144 million, and margin expanded 120 bps to 19.8%, driven by higher volume and strong operational performance.

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