), one of the leading companies in the public safety and
professional communication market, has won the final phase of a
four-year contract worth $60 million from the U.S. Department of
Veterans Affairs (VA).
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Harris will plan, deploy and deliver wireless technologies to VA
medical centers. This will not only boost voice, video and data
services of these centers but will also provide secure transfer
of medical information in a timely manner.
In the first two phases, Harris has successfully installed its
wireless infrastructure in 66 medical centers and is expected to
cover the remaining 46 medical sites in the final phase.
Two months back, Harris won two major contracts worth $960
million and $150 million, from the U.S. Air force Network-Centric
Solutions-2 (NETCENTS-2) Application Services and the Federal
Aviation Administration's (FAA) NextGen Data Communications
Program, respectively. Recently, Harris CapRock, a division
of Harris' Integrated Network Solution segment, struck a
five-year deal with Carnival Corporation to deliver
communications services to more than 100 cruise ships of 10
different cruise lines.
Harris reported fourth-quarter 2013 financial results where the
bottom line met the Zacks Consensus Estimate and the top line
surpassed the same. During the quarter, the Integrated Network
Solution segment (IT Services is part of this segment) generated
revenues of $402.1 million, up 6.1% year over year.
Thus, we believe that such contracts wins will boost the
company's top-line growth in the upcoming quarters.
Harris currently carries a Zacks Rank #2 (Buy).
Other Stocks to Consider
The stocks that are performing better in the related sector are
Ubiquiti Networks, Inc.
). While Ericsson and Qualcomm have a Zacks Rank #2 (Buy),
Ubiquiti Networks carries a Zacks Rank #1 (Strong Buy).