Harris Corp. Narrows 2017 Guidance - Quick Facts

(RTTNews) - Harris Corp. (HRS) announced the company narrowed its guidance for fiscal 2017 and now expects fiscal 2017 GAAP income from continuing operations of $5.20 to $5.25 per share and non-GAAP income from continuing operations of $5.50 to $5.55 per share, excluding Exelis acquisition-related and other charges. The company's previous guidance for fiscal 2017 GAAP income from continuing operations was $5.21 to $5.41 per share and non-GAAP income from continuing operations was $5.40 to $5.60 per share, excluding Exelis acquisition-related integration charges.

Harris now expects fiscal 2017 revenue on an organic basis to be down about 1 percent from prior year, compared to previous guidance of flat to down 2 percent, excluding $60 million of prior-year revenue from the divested Aerostructures business. Harris still expects fiscal 2017 free cash flow to be about $800 million.