Harris Corp. Slips To Loss In Q4; Issues FY16 Outlook - Quick Facts

(RTTNews) - Harris Corp. (HRS) reported that its net loss attributable to the company for the fourth quarter of fiscal 2015 was $56.2 million or $0.51 per share, compared to net income of $131.4 million, or $1.22 per share in the prior year.

Loss from continuing operations for the latest fourth quarter was $56.1 million, or $0.51 per share, compared to income of $137.6 million or $1.28 per share in the year-ago period.

Non-GAAP income from continuing operations for the latest fourth quarter was $148 million, or $1.32 per share, excluding acquisition-related costs and charges for restructuring and other items.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.21 per share for the quarter. Analysts' estimates typically exclude special items.

Orders in the fourth quarter were $1.53 billion compared with $1.09 billion in the prior year. 

Quarterly revenue rose to $1.53 billion from $1.33 billion in the prior year, while 5 analysts had a consensus revenue estimate of $1.24 billion.

Looking ahead for fiscal 2016, the company expects GAAP earnings to be in the range of $5.25 to $5.45 per share, non-GAAP earnings, excluding integration and other acquisition-related charges, in the range of $5.60 to $5.80 per share. Analysts currently expect earnings of $5.76 per share.

The company expects fiscal 2016 revenue to be in the range of $7.67 billion to $7.83 billion. Analysts expect revenue of $7.98 billion.