Harris Corp. (HRS) Reports In-Line Q1 EPS
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Harris Corporation Reports Fiscal 2016 First Quarter Results
November 3, 2015 6:30 AM ESTMELBOURNE, Fla.--(BUSINESS WIRE)-- Harris Corporation (NYSE: HRS) reported revenue in the first quarter of fiscal 2016 of $1.81 billion, compared with $1.16 billion in the prior year. GAAP net income was $148 million, or $1.18 per diluted share, and non-GAAP net income was $163 million, or $1.31 per diluted share, excluding acquisition-related costs. Prior-year GAAP net income was $125 million, or $1.18 per diluted share. Higher first quarter results were primarily due to the acquisition of Exelis in the fourth quarter of fiscal 2015. A reconciliation of GAAP to non-GAAP financial measures is provided in the tables.
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