Harris Broadcast Revenue Down in Q4
August 10, 2007
Harris Broadcast lost revenue in its fourth quarter, down 4 percent from the same period a year ago; but the company said sequentially, its revenue was up 20 percent, to $166 million, compared to the third quarter. CEO Howard Lance said trends were “very positive” in the broadcast business. “Strong double-digit organic growth continued in the Video Infrastructure & Digital Media product area, increasing 16 percent compared to the prior-year quarter, as a result of increasing demand for new products,” Harris stated. “Revenue growth in the Video Infrastructure & Digital Media product area was offset by a 25 percent decline in Transmission revenue due to continued digital TV transmission softness and a 10 percent decline in Software Systems revenue.” It did not mention radio trends in its quarterly report. Harris said DTV transmission shipments are expected to improve in fiscal 2008 with the looming 2009 switchover pending. The company has been moving to cut costs in the division and it said sequential improvement in its financial situation was due to cuts as well as higher revenue in the Video Infrastructure & Digital Media product area. The parent company, Harris Corp., overall reported revenue for the fourth quarter up 22 percent to $1.2 billion, with strong growth in its government segments. (From Radio World)
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