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L3Harris Posts Higher Sales, Operating Income In Fourth Quarter

Cal Biesecker By
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L3Harris Posts Higher Sales, Operating Income In Fourth Quarter
L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

L3Harris Technologies [LHX] on Tuesday posted higher pro forma sales and operating income in its fourth quarter driven by gains in each of its segments and the company said it is selling its security and detection business to Leidos [LDOS] for $1 billion. Pro forma sales, which combine revenue from Harris Corp. and the former L3 Technologies, increased 10 percent in the quarter to $4.8 billion from $4.4 billion a year ago. Harris acquired L3 last year and the fourth…

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