June 2009 -- Harris Corp. reported GAAP net income of $114 million, or 86 cents per diluted share, for the third quarter of fiscal 2009, compared with GAAP net income of $108 million, or 78 cents per diluted share, in the prior-year quarter. Revenue for the third quarter of fiscal 2009 was $1.36 billion, compared with $1.33 billion for the prior-year quarter.
Excluding the results of Harris Stratex Networks Inc., net income was $136 million, or $1.02 per diluted share, for the third quarter of fiscal 2009, compared with net income of $106 million, or 78 cents per diluted share, in the prior-year quarter. Revenue on the same basis increased 5% to $1.21 billion in the third quarter, compared with $1.15 billion for the prior-year quarter.
"Our company performed very well in the third quarter with higher revenue and strong earnings," said Howard Lance, chairman, president and CEO. "However, order rates declined in the quarter and are expected to remain weak in the near-term, which will have a significant impact on expected results in fiscal 2010. Beyond fiscal 2010, our company is well-positioned to return to growth. We will continue to invest in acquisitions and new products to expand into adjacent markets where our advanced technologies and capabilities are discriminators."
