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Business/Financial

L3Harris Boosts Income Despite Supply Chain Impacts On Sales

By Cal Biesecker

Friday, October 29th, 2021

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L3Harris Boosts Income Despite Supply Chain Impacts On Sales

Christopher "Chris" Kubasik, chairman and CEO of L3Harris Technologies. Photo: L3Harris

L3Harris Technologies [LHX] last Friday posted strong earnings in its third quarter, overcoming a drop in sales due to the divestiture of some business units, a delay in international award, and supply chain constraints crimping receipt of electronic components. The supply chain challenges hit the Tactical Communications business within in the company’s Communications Systems segment, resulting in product delivery delays. The supply chain disruptions hit in “recent months,” causing a nearly $100 million dent in third quarter revenue and a…

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