02.05.2009 09:15 AM
Harris Write-Down Results in Loss on Higher Revenues

Harris Corp. generated revenues of $1.51 billion for its second quarter of fiscal 2009, an increase of 16 percent over the year-ago period. The Melbourne, Fla., communications giant posted a net loss of $38.6 million for the quarter, compared to a profit of $114.3 million a year ago. The results include a $182.5 million write-down on intangibles related to Harris’s 56 percent piece of Stratex Networks.

Second-quarter revenue in the Broadcast Communications segment was flat compared to the previous year, at $163 million. Operating income was $12 million at a 7.4 percent margin, compared to $8 million the previous year.

Harris sold more transmission systems in the quarter, “driven by the over-the-air digital TV transition in the U.S. and Brazil,” the company said. Infrastructure and networking solutions and workflow software was strong internationally, but offset by weak demand in North America

“Weak economic conditions in the U.S. have prompted many broadcast and media customers to delay capital spending,” Harris said in its results release.

Orders in the United States “slowed significantly” during the first half of Harris’s fiscal 2009, ending Jan. 2, 2009. Conditions are expected to persist “during the next several quarters.”

The international picture is rosier for Harris, which has several large projects in the works, including orders for its ONE solution from Qatar, Iraq, India, Australia, Lebanon, Turkey, Nigeria, Russia, Bulgaria, Slovenia, Italy, Germany, Belgium, Switzerland, and Mexico.

Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found

Tuesday 06:00 AM
Eleven FCC Scenarios for The 600 MHz Band Plan
I suspect that the estimated $44 billion of auction proceeds do not take into account the fact that some spectrum the FCC will buy cannot be resold because it must be used as guard intervals in the 600 MHz band plan.~ Charles W. Rhodes

D. Pagan Communications /   Friday 11:45 AM
Wall Street Communications /   Friday 01:16 PM
DigitalGlue at the 2015 NAB Show:

Featured Articles
Discover TV Technology