L3Harris Technologies (NYSE: LHX) reported $4.4 billion in revenue for the fourth quarter of 2021 and $17.8 billion in full year revenue. The Melbourne, Florida-based defense company said its 2021 operating cash flow was $2.7 billion, with an adjusted free cash flow of $2.75 billion. “The L3Harris team delivered solid EPS growth, consistent with ...
U.S. Special Operations Command is looking to award L3Harris Technologies (NYSE: LHX) a $297.2 million contract modification to fully execute a capital equipment replacement program for legacy manpack radio systems. SOCOM awarded the original six-year, $255 million indefinite-delivery/indefinite-quantity contract for AN/PRC 167 radios to Harris Corp...
L3Harris Technologies (NYSE: LHX) is streamlining its core businesses into three segments focused on communication systems, integrated mission systems and space and airborne systems. “Our business segments will continue to lead market innovation in their focus areas, fueling advanced solutions for the toughest operational challenges,” Christophe...
Plymouth, Michigan-based optical technology supplier EOTech has bought Intevac‘s (Nasdaq: IVAC) photonics unit for approximately $100 million in upfront cash and future earnout payments. Intevac said Monday it also negotiated a six-month transaction service agreement with EOTech and intends to focus on the thin-film equipment market following ...
Communications & Power Industries has agreed to acquire L3Harris Technologies’ (NYSE: LHX) ESSCO business for an undisclosed sum as part of efforts to expand CPI’s portfolio of ground-based radomes for defense and government agency clients. Massachusetts-based ESSCO manufactures ground-based metal space frame radomes supporting air defen...
Arlington Capital Partners, a Washington, D.C.-based private equity firm, has agreed to acquire the Electron Devices and Narda Microwave-West divisions of L3Harris Technologies (NYSE: LHX) for an undisclosed sum. The divisions will eventually form an independent company called Stellant Systems upon the transaction’s closing, which is expected to o...
CAE (NYSE: CAE) has closed its $1.05 billion acquisition of the military training business from L3Harris Technologies (NYSE: LHX) while Renk AG completed its $400 million cash purchase of L3Harris’ combat propulsion systems unit and related assets. The two deals were first announced in March and completed Friday, three days after Christopher K...
Christopher Kubasik, most recently vice chair, president and chief operating officer of L3Harris Technologies (NYSE: LHX) and a three-time Wash100 Award winner, has succeeded William Brown as CEO of the Melbourne, Florida-based aerospace and defense contractor as part of the L3 Technologies-Harris merger agreement announced in October 2018. William ...
CAE announced that it expects to close its $1.05 billion acquisition of the military training business of L3Harris Technologies (NYSE: LHX) on Friday, July 2, after securing all regulatory approvals needed to complete the transaction. The deal was first announced in March and CAE said Monday L3Harris’ military training segment will enable it to br...
Christopher Kubasik, vice chairman, president and chief operating officer of L3Harris Technologies (NYSE: LHX), said the company plans to return more than $7.5 billion in cash to shareholders between 2021 and 2022, Reuters reported Thursday. Kubasik, a three-time Wash100 winner, noted L3Harris’ additional divesture proceeds of nearly $2 billio...
