Harris' Winning Spree Continues - Analyst Blog
June 17 2011 - 6:30AM
Zacks
A leading supplier of
communications equipment and services, Harris
Corp. (HRS) recently won a $5 million contract from the
U.S. Marine Corps. The acquisition of Falcon III AN/PRC-117G
Multiband Manpack tactical radios by the U.S. Marine department
will help them to provide better and safe communication network
facility.
These newly developed tactical
radios will facilitate better streaming of videos, delivery of data
and information across wideband networks during warfare. Its
reduced weight and size will also enhance the movement of the
armies in the battlefield.
These newly developed tactical
radios are supported by the AN/VRC-114 50-watt vehicular amplifier
adapters and are certified by the JTRS Software Communications
Architecture (SCA) and NSA Type-1. The AN/VRC-114 50-watt vehicular
amplifier adapters, which are also included in the U.S. Marine’s
buyout plans will feature increased power amplification and linkage
with all radios in the network
During this two month period,
Harris won contracts worth $100 million, which reflects strong
signs of growth.
Harris remains a leader in the
public safety and professional communication market with more than
80 years of experience and boasts products ranging from IP voice
and data networks, industry leading multiband, multimode radios,
public safety-grade broadband voice, video and data solutions that
support 500 systems globally.
In the recently concluded third
quarter, the company won contracts worth approximately $1.55
billion, thereby strengthening its capital position. Further, with
a strong financial background, Harris remains focused on business
expansion through acquisitions. Recently, the company acquired the
Global Connectivity Services business from Schlumberger
Ltd (SLB). It also bought Carefx Corporation, a leading
provider of interoperability workflow solutions in April 2011. The
acquisition of Carefx Corporation provides Harris a strong foothold
in the commercial health care communication system market.
However, the company remains
exposed to stiff competition from companies like Boeing
Co. (BA), General Dynamics Corp. (GD) and
Raytheon Co. (RTN), which also provide high-end
public safety communication systems.
We maintain our long-term Neutral
recommendation for Harris Corporation, which corresponds to a
Zacks#3 (Hold) Rank.
BOEING CO (BA): Free Stock Analysis Report
GENL DYNAMICS (GD): Free Stock Analysis Report
HARRIS CORP (HRS): Free Stock Analysis Report
RAYTHEON CO (RTN): Free Stock Analysis Report
SCHLUMBERGER LT (SLB): Free Stock Analysis Report
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