UPDATE 1-Harris Corp boosts outlook on radio demand

* Q2 EPS excluding items $1.08 vs. estimate 95 cents

* Q2 revenue down 9 percent

* Raises full-year outlook

ATLANTA, Jan 27 (BestGrowthStock) – Communications equipment maker
Harris Corp (HRS.N: ) posted better-than-expected quarterly
profit on Wednesday and boosted its full-year forecast on
increased military orders for its tactical radios.

Net income for the fiscal second quarter ended Jan. 1 was
$139.5 million, or $1.06 a share, compared with a loss of $38.6
million, or 29 cents a share, a year earlier.

Excluding acquisition-related costs, Harris said profit
came to $1.08 a share. On that basis, analysts expected 95
cents a share, according to Thomson Reuters I/B/E/S.

Revenue fell 9 percent to $1.22 billion, shy of the nearly
$1.3 billion expected by analysts.

Segment orders in the RF Communications division came to
$626 million in the quarter, including $554 million for the
tactical radio communications business. Harris’s tactical
radios, used by ground troops, distribute voice and data in an
encrypted form.

Harris said it now expects profit from continuing
operations for fiscal 2010 in the range of $4.25 to $4.35 a
diluted share — or $4.13 to $4.23 a share on a GAAP basis —
compared with its prior forecast of $3.85 to $3.95 a share —
or $3.74 to $3.84 a share on a GAAP basis. It forecast annual
revenue of $5.2 billion to $5.3 billion, compared with an
October forecast of $5.1 billion to $5.2 billion.

Investing Analysis

(Reporting by Karen Jacobs. Editing by Robert MacMillan)

UPDATE 1-Harris Corp boosts outlook on radio demand