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

Harris continued to strengthen its position in avionics and electronic warfare. The company received a $340 million award for release systems and an additional $125 million in funding for avionics components on the F-35 platform in support of LRIP 12-14. Harris also received a $72 million production order to deliver upgraded countermeasure electronic warfare systems for the B-52 platform.

In addition, the U.K. Ministry of Defence (MOD) exercised a contract option worth $46 million for the company's T7™ robots to support explosive ordnance disposal missions. This award follows the successful testing and delivery of initial T7™ robots under the previously awarded $63 million U.K. MOD contract.

Full year segment revenue increased 9% with a book-to-bill of 1.14 and operating margin expanded 100 bps to 19.3%.

Space and Intelligence Systems

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ millions)

Fourth Quarter

 

Full Year

 

 

 

FY 2019

 

FY 2018

 

Change

 

FY 2019

 

FY 2018

 

Change

 

 

Revenue

$

542

 

 

$

503

 

 

8%

 

$

2,057

 

 

$

1,913

 

 

8%

 

 

Operating income

$

94

 

 

$

81

 

 

16%

 

$

359

 

 

$

331

 

 

8%

 

 

Operating margin

17.3

%

 

16.1

%

 

120bps

 

17.5

%

 

17.3

%

 

20bps

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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