Digital Build-outs Drive Harris Broadcast Revenue Rise
The Broadcast Communications segment of Harris Corp. posted revenue of $159 million in the third quarter of its 2008 fiscal year (ending March 28), an increase of 14 percent compared to the prior-year quarter. Operating income was $7 million, compared to an operating loss in the previous-year quarter of $18 million.
Revenue growth in the third quarter was across all broadcast business areas in both U.S. and international markets, with higher revenue being driven by the continuing global conversion to digital and high-definition operations, the company said.
Sales of transmission systems grew at double-digit rates, compared to the prior-year quarter, as a result of strong shipments in the U.S. market for the over-the-air digital transmission build-out. Double-digit growth continued at the company’s Infrastructure and Digital Media systems segment, including routers, graphics equipment and multiviewers. Third quarter sales of traffic and billing Software Solutions also improved, particularly in international markets.
Overall, Harris Corp. revenue for the quarter was $1.33 billion, an increase of 24 percent over $1.07 billion in the prior-year quarter, or a 15 percent increase when the impact of prior-year acquisitions is excluded. Net income for the quarter was $108 million, or 78 cents per diluted share, down from $1.52 per diluted share in the prior-year quarter, when the company included a significant gain associated with the company’s merger with Stratex Networks.