), one of the leaders in the public safety and professional
communication market, recently announced that it has won a $100
million follow-on contract from the Australian Department of
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Per the deal, Harris will supply multiband handheld and
high-frequency manpack tactical radios under the Joint Project
2072 modernization plan. The Australian army will be installing
the popular Falcon III AN/PRC-152 handheld radios and adapters in
Moreover, the Department of Defense will also deploy Falcon II
AN/PRC-150(C) high-frequency manpack radios to aid mission
critical tasks. The radios also facilitate better line-of-sight
and beyond-line-of-sight communication.
Earlier, in fiscal 2012, Harris received a massive order worth
$235 million from the Australian Department of Defense to upgrade
the tactical radio programm of its military service.
In the recently concluded fourth quarter of 2013, Harris reported
mixed financial results with the bottom line beating the Zacks
Consensus Estimate but the top line missing the same.
In the reported quarter, the RF Communications segment generated
orders worth $348 million of which 65% was from Tactical Radio
Communications unit. Moreover, total order backlog in the
Tactical Radio Communications division was $664 million.
Thus, we believe that such overseas contract wins will not only
drive the company's top-line growth but will also consolidate its
position against larger industry players.
Harris currently carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
The stocks which are performing better in the same sector are
Ubiquiti Networks, Inc.
). Both, Qualcomm and Polycom have a Zacks Rank #2 (Buy) while
Ubiquiti Networks sports a Zacks Rank #1 (Strong Buy).