The radios provide high-bandwidth communications for streaming video, simultaneous voice and data feeds, and other situational awareness capabilities, in a small, lightweight design.
Meanwhile, Harris reported fiscal 2015 fourth quarter results, which included results of Exelis Inc. following the May 29, 2015 acquisition closing date.
Revenue in the fourth quarter of fiscal 2015 was $1.53 billion, compared with $1.33 billion in the prior year. GAAP loss from continuing operations was $56 million, or $0.51 per diluted share. Non-GAAP income from continuing operations in the fourth quarter was $148 million, or $1.32 per diluted share, and excluded acquisition-related costs and charges for restructuring and other items. The net benefit from the Exelis acquisition to Harris non-GAAP income from continuing operations was $0.09 per diluted share.
Orders in the fourth quarter were $1.53 billion compared with $1.09 billion in the prior year. Free cash flow (net cash provided by operating activities less capital expenditures) in the fourth quarter was $413 million compared with $334 million in the prior year.
"Fourth quarter results were solid, and the integration of Harris and Exelis is off to a good start. We announced our reorganization into four market-focused segments for fiscal 2016 and we consolidated headquarters, combining the top talent from across both companies. We also announced our intention to close Exelis' Ft. Wayne tactical radio facility and consolidate operations into our world-class Rochester facility. These initial integration steps mark good progress towards achieving the significant cost savings and improved competitive position this combination affords us,” said William M. Brown, Chairman, President and Chief Executive Officer.
For full fiscal year 2015, revenue was $5.08 billion compared with $5.01 billion in the prior year. GAAP income from continuing operations was $334 million, or $3.11 per diluted share. Non-GAAP income from continuing operations was $551 million, or $5.14 per diluted share. In the prior year, GAAP income from continuing operations was $540 million, or $5.00 per diluted share. Fiscal 2015 free cash flow was $713 million.
Harris provides advanced, technology-based solutions that solve government and commercial customers’ mission-critical challenges. The company has approximately $8 billion in annual revenue and about 23,000 employees — including 9,000 engineers and scientists - supporting customers in more than 125 countries.
