This Week
  • Rochester's business leaders have highest overall, future confidence.

  • Matthew Flanigan aims to build Flower City Habitat for Humanity.

  • When will downtown retail development gain momentum like the office and housing sectors?

  • Tender Loving Family Care follows a different model than most of its home care agency peers.

  • Taren Greenidge says helping Littler Mendelson clients do the right thing is rewarding.

  • See the 20th anniversary edition of the Forty under 40 supplement.

Revenue, operating income decline at RF Communications

Rochester Business Journal
July 30, 2013

Harris Corp.’s RF Communications division in Rochester posted a drop in fourth-quarter sales as revenue in both its segments declined.

Revenue was $501 million, down from $584 million a year ago. Tactical Communications revenue was $336 million, down 18 percent; Public Safety revenue was $165 million, down 6 percent.

Operating income for the segment, on generally accepted accounting principles basis, was $176 million. Non-GAAP operating income was $185 million. Operating income was $196 million in the prior year.

Orders totaled $646 million—$498 million in Tactical Communications and $148 million in Public Safety. At the end of the fourth quarter, backlog was $743 million in Tactical Communications and $598 million in Public Safety.

For fiscal 2013, RF Communications reported sales of some $1.85 billion, down from $2.14 billion the previous year. Income from continuing operations was $576.9 million, down from $703.7 million.

The financial results were included in Florida-based Harris’ earnings release Tuesday.

Harris reported fourth-quarter sales of $1.36 billion, down from sales of $1.44 billion.

Income from continuing operations, on a GAAP basis, was $71 million, or 65 cents a diluted share, compared with $137 million, or $1.20 a diluted share, the prior year. Non-GAAP income from continuing operations was $154 million, or $1.41 a diluted share, compared with $162 million, or $1.42 a diluted share.

For fiscal 2013, revenue was $5.11 billion compared with $5.45 billion in the prior year. GAAP income from continuing operations was $466 million, or $4.16 a diluted share, compared with $559 million, or $4.80 a diluted share, in the prior year. Non-GAAP income from continuing operations was $549 million, or $4.90 a diluted share, compared with $605 million, or $5.20 a diluted share, in the prior year.

The company expects income from continuing operations in fiscal 2014 of $4.65 to $4.85 a diluted share. Revenue is expected to be roughly 1 to 3 percent lower than fiscal 2013 results.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google