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Business/Financial

Harris Posts Lower Sales, Earnings; Still Sees Deal With Exelis Closing In June

By Cal Biesecker

Tuesday, May 5th, 2015

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Harris Posts Lower Sales, Earnings; Still Sees Deal With Exelis Closing In June

Sales of tactical communications products were up in Harris Corp.'s third quarter. Photo: Harris.

Harris Corp. [HRS] on Tuesday reported lower sales and earnings in its third quarter and said the Justice Department has requested more information from the company for anti-trust reviews related to its pending acquisition of defense contractor Exelis [XLS], although it still expects the $4.8 billion deal to close next month as scheduled.Net income fell 11 percent to $125.7 million, $1.20 earnings per share (EPS), from $141.4 million ($1.31 EPS) a year ago. Excluding $13 million (12 cents EPS) in…

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