Harris Corp. (HRS) Tops Q1 EPS by 5c
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Harris Corporation Reports Fiscal 2017 First Quarter Results
November 1, 2016 6:30 AM EDTFiscal 2017 revenue and EPS guidance reiterated 1Q17 EPS $1.27 GAAP, up 8%; $1.39 non-GAAP, up 6% Strong bookings of $2.05 billion; book-to-bill of 1.17 Operating cash flow $43 million, free cash flow $22 million Expect fiscal 17 free cash flow ~$800 million Repurchased $100 million in shares during the quarter Announced definitive agreement to sell the CapRock commercial business for $425 million
MELBOURNE, Fla.--(BUSINESS WIRE)-- Harris Corporation (NYSE: HRS) reported revenue in... More
Harris Corporation Signs Definitive Agreement to Sell Its CapRock Communications Business to SpeedCast International for $425 Million
November 1, 2016 5:21 AM EDTMELBOURNE, Fla.--(BUSINESS WIRE)-- Harris Corporation (NYSE: HRS) and SpeedCast International Limited (ASX: SDA) today announced a definitive agreement under which SpeedCast will acquire Harris CapRock Communications commercial business for $425 million in cash. Proceeds from the transaction will be used to pay down debt and return cash to shareholders. The transaction is subject to regulatory review and other customary closing conditions and is expected to close in the first calendar quarter of 2017.
One of Harris key priorities over the past several years has been to reshape our portfolio and focus on businesses where... More
