Harris Corporation (NYSE:HRS), an international communications and information technology company, has been awarded an Indefinite Delivery, Indefinite Quantity (IDIQ) contract with a potential value of $397 million to continue providing Falcon III ® handheld tactical radio systems to the U.S. Department of Defense (DoD).
The two-year contract, awarded by Space and Naval Warfare Systems Command on behalf of the U.S. DoD, enables U.S. forces to acquire radios from the Falcon III AN/PRC-152 handheld radio family, along with accessories and training. The contract includes two additional 1-year options that if exercised could increase the potential value to $712 million.
Harris is one of two suppliers to receive new contracts in connection with the Consolidated Single-Channel Handheld Radio (CSCHR) program. Harris has provided the U.S. military with more than 100,000 AN/PRC-152 radios under the CSCHR program since 2007.
“The new CSCHR contract provides the government with important new flexibility in meeting the emerging needs of warfighters for tactical communications,’’ said George Helm, president, Department of Defense business, Harris RF Communications. “The contract gives the government the option to make awards using ‘best-value’ contract criteria to deliver added capability to warfighters as technology allows. We applaud the joint program office for taking this step to encourage innovation, which will drive greater competition in tactical radios.’’The Falcon III family of radios was developed by Harris using its own research and development funds. Harris RF Communications is the leading global supplier of secure radio communications and embedded high-grade encryption solutions for military, government and commercial organizations. The company's Falcon ® family of software-defined tactical radio systems encompasses manpack, handheld and vehicular applications. Falcon III is the next generation of radios supporting network-centric operations worldwide. Harris RF Communications is also a leading supplier of assured communications ® systems and equipment for public safety, utility and transportation markets — with products ranging from the most advanced IP voice and data networks to portable and mobile single- and multiband radios. About Harris Corporation Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately $5.5 billion of annual revenue and about 15,000 employees — including 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications ® products, systems and services. Additional information about Harris Corporation is available at harris.com. Forward-Looking Statements This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected value of the program to Harris are forward-looking and involve risks and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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