This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Harris Management Discusses Q4 2012 Results - Earnings Call Transcript

For the full fiscal year 2012, orders were $5.48 billion, up 8%, and revenue was $5.45 billion, up 1% over the prior year. Although non-GAAP income from continuing operations was down 5%, non-GAAP earnings per share increased 4% to $5.20. Overall, company results for the fourth quarter and full year demonstrate that our strategy for creating value in a tough government spending environment is working, successfully execute in our core businesses and in our growth initiatives, drive operational excellence to lower costs across the company, generate higher free cash flow and return capital to shareholders through share repurchases and dividends.

I'll turn it over to Gary to comment on segment results and guidance outlook, and then I'll come back with a few comments before we open the call to questions.

Gary L. McArthur

Thank you, Bill. And good morning.

Moving to segment results on Slide 5. Revenue for RF Communications was $584 million compared to $628 million in the prior year. Tactical Communications revenue was $409 million, declining 13%. In Public Safety and Professional Communications, revenue growth was excellent, increasing 12% to $175 million. Operating performance for the segment was very good, with operating income increasing in spite of lower revenue. Lower manufacturing costs and operating expenses resulted in a higher operating margin of 33.5%, up from 30.4% in the prior year.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.60%
FB $117.44 -0.95%
GOOG $692.33 -0.84%
TSLA $232.12 -4.00%
YHOO $36.02 -1.40%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs