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Harris Q4 Profit Surges - Quick Facts

Harris Corp.'s (HRS) fourth-quarter net income attributable to the company jumped to $131.4 million or $1.22 per share from $55.5 million or $0.51 per share, last year.

The company's GAAP income from continuing operations totaled $138 million, or $1.28 per share, versus $71 million, or $0.65 per share, a year ago. Prior year non-GAAP income from continuing operations, excluding charges related to restructuring and other actions, was $154 million, or $1.41 per share. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $1.28 for the quarter. Analysts' estimates typically exclude one-time items.

The firm clocked $1.33 billion in revenue for the latest quarter, compared with the prior-year figure of $1.36 billion, while 9 analysts estimated revenues of $1.30 billion.

For fiscal 2015, the company's initial guidance for GAAP income from continuing operations is in a range of $4.75 to $5.00 per share. Revenue guidance for fiscal 2015 is a range of 1 to 3 percent lower compared with fiscal 2014.

by RTT Staff Writer

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