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The Information Technology 100

95

Harris

Need help designing surveillance systems on military planes? Maybe even a media network in Iraq? If so, communications-equipment specialist Harris is the go-to firm. And my, how they go. Harris' biggest customer, the U.S. government, has kept it busy. In January, it landed a $96 million contract for the Iraqi Media Network, a plan to rebuild the shattered nation's radio, television, and newspaper infrastructure. With the Harris Falcon II tactical radio a favorite among troops deployed in Iraq and Afghanistan, new orders rolled in from the U.S. Marine Corps, as well as the Romanian and Norwegian military. Those deals helped push revenues in the fiscal year ended in June to $2.9 billion, up 22.6%. With government contracts such as aerial surveillance systems for the Air Force E-10A aircraft still landing at Harris' door, Chief Executive Howard Lance has pushed up earnings expectations for this fiscal year.

Company Info

STOCK INFO HRS
Revenues* $2.9 BILLION
Revenue Growth 22.6%
Return on Equity 12.4%
Total Return25.2%
Profits* $174.1 MILLION
Industry COMMUNICATIONS EQUIPMENT
CORPORATE WEB SITE
All figures are for the most recent available 12 months.

* Latest available data for the 12-month period ended Dec. 31, Jan. 31, Feb. 29, Mar. 31, or Apr. 30. For companies that do not report quarterly, the most recent annual data were used.


Data provided by Standard & Poor's Compustat, BusinessWeek

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Company Snapshot

Harris Corp., through its subsidiaries, provides communications products, systems, and services to government and commercial customers. The company operates through four segments: Government Communications Systems, RF Communications, Microwave Communications, and Broadcast Communications. Government Communications Systems segment designs, develops, and supports communications networks and communications equipment; designs and supports information systems for image and other data collection, processing, interpretation, storage and retrieval; and offers engineering, operations, and support services. It serves various U.S. government departments and other aerospace and defense companies. RF Communications segment supplies wireless voice and data communications products, systems and networks to the U.S. Department of Defense and other Federal and state agencies, and to foreign government defense agencies. This segment supplies radio products and systems for man portable, mobile, strategic fixed site, and shipboard applications. It also develops and sells radio systems and provides turnkey systems and products for embassy radio networks. Microwave Communications segment designs, manufactures, and sells various digital microwave and millimeter wave radios for use in worldwide wireless communications networks, including cell sites, fixed access facilities, switching systems, and other similar systems. Broadcast Communications segment offers transmission, studio, software, automation, and network management equipment and systems to over the air broadcasters and other service providers. It develops, manufactures, and supplies digital and analog radio and television broadcast encoding and transmission equipment, systems, and services, radio and television studio equipment, and automation and network management equipment and systems enabling television stations, groups and networks to monitor and control hardware, software and related elements from a central location. The company was incorporated in 1926 and is headquartered in Melbourne, Fla.

No. of Employees

10,900


Data provided by Capital IQ
Howard L. Lance

Howard L. Lance

AGE: 48

Titles

Chairman of the Board, President and Chief Executive Officer

CEO Bio >

Total Compensation*

$ 2.2 MILLION

Total Value of Options**

$ 3.6 MILLION

Degrees Held

Bradley University (BS), Purdue University (MS)

* Latest available fiscal year
** The sum of the net value of options exercised and held in the latest available fiscal year

Key Executives

Howard L. Lance, Bryan R. Roub, Robert K. Henry, Richard L. Ballantyne, Nick E. Heldreth

Board Members

Howard L. Lance, Thomas A. Dattilo, James C. Stoffel, Lewis Hay III, Karen Katen, Stephen P. Kaufman, Joseph L. Dionne, David B. Rickard, Gregory T. Swienton, Leslie F. Kenne


Data provided by Capital IQ
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