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L3Harris Ekes Out Income Gain, Sales Down In First Quarter

Cal Biesecker By
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L3Harris Ekes Out Income Gain, Sales Down In First Quarter
F-35 fighter. L3Harris says its F-35 Technology Refresh 3 Integrated Core Processor began safety-of-flight testing in the first quarter of 2022 and is expected to be fully qualified later this year. Photo: Lockheed Martin

L3Harris Technologies [LHX] last Thursday after the markets closed posted slightly higher earnings in its first quarter due to a number of non-operating costs in the same period a year ago that did not recur and sales fell due to business divestitures, supply chain issues, award timing and program transitions. Net income was a percent higher in the quarter, $475 million, $2.44 earnings per share (EPS), versus $468 million ($2.25 EPS) a year ago. Per share results were up 8…

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