IT 100 Special Report 2006 >

  THE INFOTECH 100 COMPANIES
Untitled

95

Harris

(NYSE: HRS)

USA

If your communications systems need to be tough, stealth, or secure, then communications equipment specialist Harris is a go-to business. The Melbourne (Fla.) company builds radios, TV networks, radar systems, and more for use in far-flung corners of the world. Its biggest customer, the U.S. government, has kept it busy. Harris is rebuilding Iraq's shattered radio, TV, and newspaper infrastructure under a $96 million contract. With Falcon II tactical radios a favorite among troops deployed in Iraq and Afghanistan, the U.S. Marine Corps ramped up a five-year $75 million supply contract to $586 million. Deals like those helped push revenues in the fiscal year ended in June to $3.3 billion, up 14%. With more government contracts expected to land at Harris' door, chief executive Howard Lance says earnings should jump 20% in fiscal 2007.

Company Info

2005 Rank

95

Sales*
($ Millions)

3,304.3

Sales Growth
(over prev. year)

14 %

Profits*
($ Millions)

214.0

Return on Equity

13.4 %

Total Return on Sales (12-mo.)

42.7

Share Price
As of 5/31/06

40.72

CURRENT
MARKET INFO

NYSE: HRS

No. of Employees

12,600

Industry Communications Equipment
COMPANY WEB SITE >
*Trailing 12 months
Stock price data as of 5/31/06
DATA: Standard & Poor's Compustat

Related Articles

More Than Playing Defense

S&P's Tech Company Report Card, Pt. 1

The Japan That Can Say: "See You In Court"


Company Snapshot

Harris Corp., through its subsidiaries, provides communications products, systems, and services to government and commercial customers. The company operates in four segments: government communications systems, RF communications, microwave communications, and broadcast communications. The government communications systems segment designs, develops, and supports communications networks and communications equipment; and designs and supports information systems for image and other data collection, processing, interpretation, storage, and retrieval; as well as offers engineering, operations, and support services. This segment serves the U.S. government departments, and other aerospace and defense companies. The RF communications segment supplies secure voice and data radio communications products, systems, and networks to the U.S. Department of Defense, Federal and state agencies, and government defense agencies. This segment supplies secure radio products and systems for manpack, handheld, vehicular, strategic fixed-site, and shipboard applications. The microwave communications segment designs, manufactures, and sells microwave radios for use in wireless communications networks. Its products are used for cellular and mobile infrastructure connectivity; secure data networks; public safety transport for state, local, and Federal government users; and right-of-way connectivity for utilities, pipelines, railroads, and industrial companies. The broadcast communications segment develops, manufactures, and supplies digital and analog television transmission equipment for over-the-air broadcasters, and for the emerging mobile television market. The company was founded in 1916 and is headquartered in Melbourne, Fla.


Data provided by Capital IQ
 
Howard L. Lance

Howard L. Lance, 49

President, Chief Executive Officer and Chairman

Total Compensation

$2,716,191

Value of Options

$7,560,062

Bradley University - BS, Krannert School of Management, Purdue University - MS

Howard Lance has been chairman of Harris since June, 2003, and president and chief executive officer since February, 2003. Lance was most recently president of NCR and chief operating officer of its retail and financial group from July, 2001, until October, 2002. Previous to that, Lance was executive vice-president of Emerson Electric, where he spent 17 years. Before Emerson, Lance was CEO of Astec, Emerson's majority-owned power supply and electronic components business based in Hong Kong. Prior to that, Lance served as group vice-president within the Climate Technologies segment of Harris and was president of the Copeland Refrigeration Div. He was at Copeland for 12 years, and rose to the top position through a variety of sales, marketing, and product service assignments. Earlier, Lance held sales and marketing assignments with Scott-Fetzer and Caterpillar, where he began his career in an engineering co-op program. He has been a director of Harris since January, 2003. He has been a director of Eastman Chemical since December, 2005. He serves as a member of the board of Enterprise Florida. He served as a director of Astec. He serves on the board of several industry organizations, including the Aerospace Industries Assn., the Manufacturers Alliance, and the National Association of Manufacturers. He earned an master's degree in management from the Krannert Graduate School of Management at Purdue University and a bachelor's degree in industrial engineering from Bradley University.



Executive Data provided by Capital IQ