(HRS) Harris’ Winning Spree Continues

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.

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