Harris Corp. Updates FY16 Guidance - Quick Facts

(RTTNews) - Harris Corp. (HRS) has increased its guidance for fiscal 2016 non-GAAP income from continuing operations from a range of $5.60-$5.80 per share to a range of $5.70-$5.80 per share, excluding the non-cash charge related to CapRock, acquisition-related items, restructuring and other charges.

Harris revised its guidance for fiscal 2016 GAAP income from continuing operations from a range of $5.25-$5.45 per share to a range of $2.80-$2.90 per share. The company noted that its GAAP income from continuing operations guidance could change as a result of any further integration actions related to the Exelis acquisition.

Guidance for fiscal 2016 revenue is updated from a range of $7.67-$7.83 billion to a range of $7.60-$7.68 billion.

Analysts polled by Thomson Reuters expect the company to report profit per share of $5.76 on revenue of $7.72 billion. Analysts' estimates typically exclude special items.