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Harris Swings To Profit In Fourth Quarter

Cal Biesecker By
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Harris Swings To Profit In Fourth Quarter
Harris Corp. Chairman, President and CEO William Brown. Photo: Harris

Aided by the acquisition of Exelis last year, Harris Corp. [HRS] on Tuesday posted higher sales and earnings in its fourth quarter and the company initiated guidance for its next fiscal year that points to flat earnings but a dip in sales.Net income in the quarter was $160 million, $1.28 earnings per share (EPS), versus a $56 million (51 cents EPS) loss a year. Excluding acquisition costs related to the Exelis deal, which closed in May 2015, and restructuring and…

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