Harris Corp. (HRS) announced after the close Thursday that third quarter income from continuing operations is expected to be approximately $1.12 per diluted share, while revenue is expected to be approximately $1.20 billion.
Fiscal 2013 guidance for income from continuing operations has been reduced from a previous range of $5.00 to $5.20 per diluted share to a range of $4.60 to $4.70. Revenue is now expected to decline 6 to 7 percent compared to the prior year.
Harris Corp. gapped open lower Friday and fell during the first 45 minutes of trade. The stock finished down by 2.50 at $44.06 on strong volume and dropped to a 2 1/2 week low.
For comments and feedback: editorial@rttnews.com