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Aerojet Deal Helps Lift L3Harris’ Results In Second Quarter

Cal Biesecker By
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Aerojet Deal Helps Lift L3Harris’ Results In Second Quarter
Aerojet Rocketdyne supplies boosters, rocket motors and other components to RTX's family of Standard Missiles. Photo: L3Harris Technologies

L3Harris Technologies [LHX] last Thursday reported top and bottom-line gains in its second quarter, largely due to its acquisition a year ago of rocket motor and engine company Aerojet Rocketdyne. Sales increased 13 percent to $5.3 billion from $4.7 billion a year ago, with all but 1 percent of the growth coming from the acquisition of Aerojet Rocketdyne last July. The scant organic growth came from the Communication Systems (CS) segment, which was up on broadband communications and higher sales…

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