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 Return | 25.2%
|
| 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 
Howard L. Lance
Bio
Howard L. Lance has been Chairman of the Board of Harris Corp. since June 30, 2003, President and Chief Executive Officer since February 1, 2003 and a Director since January 20, 2003. Mr. Lance was most recently President of NCR Corp. and Chief Operating Officer of its Retail and Financial Group with over $4 billion in sales. Previous to that, Mr. Lance was Executive Vice President of Emerson Electric Co. At Emerson, he led one of Harris Corp.'s largest segments, Electronics and Telecommunications, with sales of approximately $3 billion. Mr. Lance spent 17 years of his career at Emerson Electric Co., holding increasingly senior management positions. In 1999, Mr. Lance was named Executive Vice President for the Electronics and Telecommunications businesses, which provide a broad range of power, electronic, and networking products for the information technology and telecommunications markets. Previous to that, Mr. Lance was Chief Executive Officer and a Director of Astec (BSR) PLC, which was Emerson''s majority-owned power supply and electronic components business based in Hong Kong and listed on the London Stock Exchange. Prior to that, Mr. Lance served as group Vice President within the Climate Technologies segment of Harris Corp. and was previously President of the Copeland Corp. Refrigeration Division. He served at Copeland for a total of 12 years and rose to the top position through a variety of sales, marketing, and product service assignments. Earlier, Mr. Lance held sales and marketing assignments with the Scott-Fetzer Co. and Caterpillar Inc. where he began his career in an engineering co-op program. He earned an M.S. degree in management from the Krannert Graduate School of Management at Purdue University and a B.S. degree in industrial engineering from Bradley University.
AGE: 48
Titles
Chairman of the Board, President and Chief Executive Officer
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
