Harris Corp. Guides FY19 In Line With View - Quick Facts

(RTTNews) - Harris Corp. (HRS) on Tuesday initiated earnings and revenue guidance for the full-year 2019, following strong momentum and performance in fiscal 2018.

The company projects fiscal 2019 earnings from continuing operations in a range of $7.65 to $7.85 per share, and revenues between $6.53 billion and $6.65 billion, up 6 to 8 percent from fiscal 2018.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.70 per share on revenues of $6.55 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, net income from continuing operations increased to $212 million or $1.74 per share from $166 million or $1.35 per share in the prior-year quarter. Adjusted earnings per share were $1.78.

Total revenues for the quarter grew 8 percent to $1.67 billion from last year's $1.54 billion. Analysts expected quarterly earnings of $1.76 per share on revenues of $1.62 billion.