AP News

Harris Corp. gets $397M Defense Dept. contract

MELBOURNE, Fla. (AP) — Communication and information technology company Harris Corp. said Monday that it received a $397 million contract from the U.S. Department of Defense for handheld radio systems.

Harris said the contract for Falcon III handheld radios will last for two years. The value of the agreement could rise to $712 million if the government renews the contract's two one-year options. Harris said it has sold more than 100,000 radios to the Defense Department since 2007.

Harris Corp. posted revenue of $5.45 billion in its latest fiscal year, which ended in June.

Shares of the Melbourne, Fla., company lost 32 cents to $46.01 in afternoon trading.

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