Sign In
Search
Business/Financial

Harris Posts Higher Earnings Despite Dip In Sales; Agrees To Sell CapRock

Cal Biesecker By
SHARE:
Harris Posts Higher Earnings Despite Dip In Sales; Agrees To Sell CapRock
Harris Corp. Chairman, President and CEO William Brown. Photo: Harris

Harris Corp. [HRS] on Tuesday posted higher first quarter net income on margin improvement, cost savings and pension income, despite a slight drop in sales.Harris also said it has agreed to sell its CapRock Communications business to Australia-based SpeedCast International Limited for $425 million in cash as part of its portfolio reshaping plans. Harris said proceeds from the deal, which is expected to close in the first quarter of 2017, will be used to pay down debt and return cash…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.

Recommended

Business/Financial

General Dynamics Posts Strong First Quarter Led By Shipbuilding

Navy/USMC

Navy Awards HII $283 Million To Start Work On New Frigate

Navy/USMC

Oshkosh Anticipates Marines’ Block II ROGUE-Fires Award This Year, Details Autonomy Work

Missile Defense

MDA Director Says NGI On Track To Close Design Phase This Year

Trending

Marines Tap Sikorsky, Robinson’s Unmanned R66 For Medium Resupply Drone Development Effort
Army Begins Evaluating Bumble Bee Drone Interceptor With Autonomous Kill Capability
USAF Issues Correction on 319 Procurement Number for KC-46s, Says Number Is 263
Army Plans Sustained Procurement Cuts To Black Hawk, Apache And Chinook Fleets
USAF Examining Software, Construction Competition For Sentinel Program

Congress Updates

Congress

Munitions Fired Represent Most of $25 Billion Spent By Pentagon on Iran War So Far

Munitions fired in the two-month old “Operation Epic Fury” against Iran represent most of the $25 billion cost the Pentagon has incurred thus far in the conflict, the acting Defense […]

Congress

Slotkin: Pentagon Should Use Anthropic’s Mythos To Spot Cyber Security Gaps

The Pentagon should be using Anthropic‘s recently announced Mythos artificial intelligence model to spot gaps in cyber security, Sen. Elissa Slotkin (D-Mich.) said on Tuesda. “I think the thing that […]

Air Force

Budd And Shaheen Bill Would Authorize 329 F-15EX Fighters

Two members of the Senate Armed Services Committee (SASC), Sen. Ted Budd (R-N.C.) and Sen. Jeanne Shaheen (D-N.H.), have introduced the Airpower Acceleration Act, which would authorize multi-year procurements of […]

Congress

HASC’s Wittman Sees ‘Challenging’ Push For $350B In Reconciliation Funds, Wants Sustained Defense Increase

NATIONAL HARBOR, Md.– Congress’ work to pass $350 billion in reconciliation funds to support the Trump administration’s push for a $1.5 trillion fiscal year 2027 defense topline is “going to […]

The Force Multipliers

Force Multipliers

Arne Brinck – Dark Wolf Solutions

Force Multipliers

Jags Kandasamy – Latent AI

Force Multipliers

Force Multipliers – Krista McKendree

Force Multipliers

Force Multipliers – Fred Taylor

Job Feed

Post a Job // Post a Resume