Leading supplier of communications equipment and services, Harris Corporation (HRS), recently won a major contract from the U.S. Air Force to provide Hosted Payload Solutions (HoPS) through 5 years. The contract is valued at $495 million. This adds yet another feather to Harris’ cap, given that it has bagged a series of contracts over the past few days.
This Hosted Payload Solutions program will not only match government payloads with commercial spacecraft but will also deliver integration, testing, operations and infrastructure services to accommodate, launch and operate the payloads.
Harris kick-started the week with a $19 million contract win from Air Force Special Operations Command (AFSOC) of U.S. to supply Falcon III wideband tactical radios.
On Sep 12, 2014, Harris received an order for Falcon III RF-340M multi-channel manpack Radios from the U.S. Department of Defense.
A day prior to that, on Sep 11, 2014, Harris received a massive order worth $88 million from an unidentified country in the Middle East to supply Falcon III wideband tactical radios and accessories. The company will deliver the RF-7800H wideband HF tactical radio, the RF-7850M radio and the RF-7800S lightweight soldier personal radio.
Such regular and valuable contract wins should boost Harris’ top and bottom lines higher in the near term. Notably, Harris’ consolidated revenues in the fourth quarter of fiscal 2014 reached $1.329 billion, down 2.2% year over year. However, the figure comfortably surpassed the Zacks Consensus Estimate of $1.299 billion.
Currently, Harris carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Investors interested in the sector may consider better-ranked stocks like Aruba Networks, Inc. (ARUN), General Dynamics Corporation (GD) and Lockheed Martin Corporation (LMT). All these stocks hold a Zacks Rank #2 (Buy).
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