Harris Corporation Books 3 New Radio Orders
HarrisCorporation is ending 2013 with a flurry of orders. The company reported today that it received a $36 million booking from a NATO country that it did not identify for its Falcon II AN/PRC-150(C) high-frequency tactical radios. The nation's special forces will use the radios, in both pack and vehicular configurations, for what Harris terms "beyond-line-of-sight environments."
The company also announced this week that it's gotten a follow-on order from Australia's Department of Defense for Falcon II AN/PRC-150(C)s in pack configuration and Falcon III AN/PRC-152 handheld radios. The order totals $100 million. It is part of that country's JOINT Project 2072, a communications modernization program for the military.
Lastly, Harris said this week it booked a $49 million order covering several Falcon III models from a Middle Eastern country that it did not name. The supplied radios are to be integrated with vehicular communications systems in support of a broad network. This network will be used to support the country's military and security forces.
In terms of both share price and fundamentals, Harris has been doing very well of late. In its most recently reported quarter, the firm in October reported EPS of $1.18, $0.05 higher than the average analyst estimate, and its tally for new orders exceeded revenues booked. Since the beginning of October, its stock has risen steadily from just under $60 to the present level of $70.02.
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