Harris Q3 Earnings Up, Beats View; Raises FY EPS Guidance

(RTTNews) - Harris Corp.'s (HRS) third-quarter net income attributable to the company climbed to $141.4 million or $1.31 per share from $94.8 million or $0.85 in the year-ago quarter. The company's income from continuing operations rose to $137 million or $1.27 per share from $125 million or $1.12 per share. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $1.19 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the third quarter totaled $1.27 billion compared with $1.20 billion last year. Nine analysts estimated revenues of $1.23 billion for the quarter.

Further, the company raised its fiscal 2014 guidance for income from continuing operations to a range of $4.90 - $5.00 per share from the previous range of $4.80 - $4.90 per share. Full-year revenue is now expected to decline 2 to 3 percent compared with the prior year. Analysts project annual earnings of $4.93 per share and annual revenues of $4.97 billion.