Harris Tops Wall Street’s 4Q Earnings, Revenue Forecasts

HARRISHarris Corp. (NYSE: HRS) has reported fiscal year 2015 fourth quarter earnings of $1.32 per share, a figure adjusted for one-time gains and costs and seven cents higher than the Wall Street forecast of $1.21 per share.

The Melbourne, Fla.-based communications technology maker included in its fourth quarter results activity from Exelis, which Harris closed its purchase of May 29.

Harris reported earnings of $1.83 per share in the prior year period.

Revenue for the fourth quarter was reported as $1.53 billion, which exceeded analysts’ expectations by approximately $290 million, and total sales for the year was stated as $5.08 billion.

Total profit for fiscal year 2015 was $334.1 million.

Harris’ initial guidance for its 2016 fiscal year has earnings of between $5.60 and $5.80 per share and revenue in the range of between $7.67 billion and $7.83 billion.

Shares in Harris opened at 82.88 Friday and have traded up close to 19 percent over the past year.

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