Harris Corporation (NYSE: HRS) has received a four-year, $113 million contract from the U.S. Naval Sea Systems Command (NAVSEA) to upgrade the Navy's primary long-range, three-dimensional defense radar. The contract includes an initial $39 million order and three one-year options. The contract was received in the first quarter of Harris' fiscal 2016.

Harris was awarded the contract under the Navy's Radar Obsolescence and Availability Recovery (ROAR) program to upgrade AN/SPS-48E radars to the more advanced SPS-48G version, which uses a modern solid-state transmitter. This approach increases fleet readiness to address emerging threats, while lowering the Navy's total cost of radar ownership.

"The SPS-48 radar provides an essential surveillance capability for the U.S. Navy, which faces growing and increasingly more complex threats," said Rich Sorelle, president, Harris Electronic Warfare business unit. "The radar is expected to remain in operation through the year 2050, and Harris is committed to ensuring it remains effective and dependable throughout its service life."

About Harris Corporation

Harris Corporation is a leading technology innovator, solving our customers' toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 125 countries, has approximately $8 billion in annual revenue and 22,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems, and Critical Networks. Learn more 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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