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Harris +5.1% on FQ2 beat, raised guidance

Jan. 29, 2019 9:20 AM ETL3Harris Technologies, Inc. (LHX) StockLHXBy: Yoel Minkoff, SA News Editor2 Comments
  • Earnings per diluted share from continuing operations increased 19% to $1.96.
  • Revenue by segment: Communication Systems +10%; Electronic Systems, +6%; Space and Intelligence Systems +11%.
  • "Integration planning for the merger with L3 is progressing well, with the integration team fully staffed and developing detailed plans to deliver $500M of cost synergies and ensure seamless operations post close," said CEO William Brown. "We continue to expect the transaction to close in mid-2019."
  • The company also had its most active launch quarter to date: Three small satellites, the GPS SV01 and two international launches.
  • Raised guidance for fiscal 2019: EPS from continuing operations of $7.90-$8.00 (from $7.80-$7.90), revenue in a range of $6.66B-6.69B (up 6-8% from previous guidance).
  • HRS +5.1% premarket
  • FQ2 results

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