(HRS) Harris’ Falcon Wins Another Award

Harris Corp. (HRS) recently won a contract worth $39 million from the U.S. Special Operations Command (USSOCOM) for Falcon III AN/PRC-152A wideband handheld tactical radios.

The recent contract is a part of the $400 million agreement with the IDIQ, under which Harris will provide assistance regarding the upgradation of SOCOM’s tactical radio stock. The remaining orders will be issued to Harris in the forthcoming months, hence increasing the company’s order backlog in the upcoming quarters.

The Falcon III AN/PRC-152A wideband technology is gaining huge popularity within the defense sector of many countries worldwide as it facilitates faster transmission of data, voice and video in a secure manner.

Recently, Harris declared third quarter 2012 financial results, with both EPS and revenue surpassing the Zacks Consensus Estimates. In the reported quarter, the RF Communication segment, which includes Tactical Radio Communications and Public Safety and Professional Communications, generated new orders worth $629 million with $534 million in the Tactical Radio Communications business. Total order backlog in the Tactical Radio Communications segment stood at $717 million.

Despite winning consistent contracts coupled with huge order backlog, 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.

Currently, Harris Corporationhas a Zacks #3 Rank, implying a short-term Hold rating on the stock.

Harris Corporation, based in Melbourne, Florida, remains one of the leaders in the public safety and professional communication market and boasts products ranging from industry leading multi-band, multi-mode radios, public safety-grade broadband voice, video and data solutions.

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