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Revenues, operating income decline at RF Communications

Rochester Business Journal
January 29, 2013

Harris Corp.’s RF Communications division in Rochester reported year-over-year declines in second-quarter sales and operating income Tuesday, despite revenue growth in its public safety sector.

RF Communications logged sales of $486 million compared with sales of $526 million a year earlier. Tactical communications revenue was $337 million, a decline of 14 percent, and public safety revenue was $149 million, an increase of 10 percent.

Second-quarter operating income for the RF Communications segment was $151 million compared with $172 million in the prior year.

Orders for the segment totaled $402 million, including $287 million in tactical communications and $115 million in public safety. At the end of the second quarter, backlog was $561 million in tactical communications and $581 million in public safety.

RF Communications employs roughly 2,200 workers.

Florida-based Harris reported income from continuing operations of $142 million, or $1.25 a diluted share, compared with $136 million, or $1.18 a diluted share, a year ago.  Excluding special charges, income from continuing operations was $142 million, or $1.24 a diluted share. Sales were $1.29 billion, down from $1.31 billion a year ago.

Due to expected slower government spending resulting from growing budget uncertainty, Harris has updated its fiscal 2013 guidance for income from continuing operations to a range of $5 to $5.20 a share from a range of $5.10 to $5.30 a share. Revenue is now expected to decline 2 percent to 4 percent compared.

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


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