Harris Corp. to Discontinue Cyber Hosting Operation; Will Continue Providing Advanced Cyber Security & Cloud-Enabled Applicat...
February 27 2012 - 8:00AM
Business Wire
Harris Corporation (NYSE:HRS), an international communications
and information technology company, plans to discontinue its Cyber
Integrated Solutions operation -- which provided remote cloud
hosting -- and sell its related data center facility in
Harrisonburg, Virginia. The operation is part of the company’s
Integrated Network Solutions segment.
The company determined that although demand continues for cyber
security and cloud-enabled solutions, its government and commercial
customers currently prefer hosting mission-critical information on
their own premises rather than remotely.
Harris has provided and will continue to provide its customers
with advanced cyber security and cloud-enabled software
applications and solutions as a service. Harris engineers have
developed and managed some of the world’s most secure,
mission-critical communications and IT networks, such as the
ultra-reliable Federal Aviation Administration Telecommunications
Infrastructure network. Additionally, the company's technology,
countermeasures and monitoring capabilities safeguard vital
information systems that support the critical missions of military,
intelligence, and federal law enforcement customers.
“There is a large and growing market for cyber security and
cloud-enabled solutions, and Harris is committed to continuing to
be a significant player in this area,” said William M. Brown,
president and chief executive officer. “These actions allow us to
refocus our capital and efforts on the secure, cost-effective
communications and IT solutions that our customers are
demanding.”
The company expects to incur an after-tax charge of $70 million
to $80 million during fiscal 2012 as a result of these actions.
About Harris Corporation
Harris is an international communications and information
technology company serving government and commercial markets in
more than 150 countries. Headquartered in Melbourne, Florida, the
company has approximately $6 billion of annual revenue and about
17,000 employees — including nearly 7,000 engineers and scientists.
Harris is dedicated to developing best-in-class assured
communications® products, systems, and services. Additional
information about Harris Corporation is available at
www.harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect management's current expectations, assumptions and
estimates of future performance and economic conditions. Such
statements are made in reliance upon the safe harbor provisions of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The company cautions investors
that any forward-looking statements are subject to risks and
uncertainties that may cause actual results and future trends to
differ materially from those matters expressed in or implied by
such forward-looking statements. Statements about the company’s
expectation or amounts or timing of estimated charges associated
with the plan for discontinuing the company’s Cyber Integrated
Solutions operation and the related exit and disposal activities
are forward-looking and involve risks and uncertainties. Other
factors that may impact the company’s results and forward-looking
statements may be disclosed in the company’s filings with the SEC.
Harris disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
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