Harris Corporation, an international communications and information technology company, expects revenue of approximately $5.3 billion for the fiscal 2008, an increase of 25% compared to $4.2 billion reported in the fiscal 2007.
Harris expects GAAP net income for fiscal 2008 of approximately $445 million, or $3.26 per diluted share, and non-GAAP net income of approximately $463 million, or $3.39 per share.
For the fourth quarter of 2008, the company expects revenue of approximately $1.4 billion, an increase of 19% compared to $1.2 billion in the fourth quarter of 2007. Harris expects net income for its fourth quarter of 2008 to be approximately $122 million, or $0.90 per share, compared to $87 million or $0.63 per share in the fourth quarter of 2007.
Non-GAAP net income for the fourth quarter of 2008 is expected to be approximately $129 million or $0.95 per share compared to non-GAAP net income of $99 million or $0.71 per share, in the same period of 2007.
Howard Lance, chairman, president and CEO of Harris, said: "Harris Corporation delivered overall strong consolidated results in the fourth quarter. Further, we finished the year with higher backlog and good momentum, and remain confident in our ability to achieve our previous fiscal 2009 guidance."
Story Source: Datamonitor
