) has emphasized its leadership position in the public safety and
professional communications market by winning a $31 million
contract in Trinidad and Tobago. The deal signifies the growing
global popularity of the company's communication products among
the defense sectors of various countries.
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Harris has been awarded the contract by Trinidad and Tobago
Police Service and will replace their existing communication
system with its Public Safety Access point (PSAP) and 800MHz P25
trunked radio systems.
Florida-based Harris will provide interoperable communications
between the armed forces and public safety department by
combining Harris's VIDA network with the ultra high frequency
(UHF) in the island country. Installing the Harris solution the
country is replacing its existing analog based communication
system with the latest digital radio system, thus providing
increased coverage for its emergency
Harris's RF Communications segment provides secure radio
communications and embedded high-grade encryption solutions for
military, government and commercial organizations. At the end of
the previous quarter, order backlog in the segment came in at
$1.24 billion including $623 million in Public Safety and
Of late, the company has won numerous orders for its Tactical III
radio products both from domestic and international customers. As
per Zacks Consensus Estimate the company is expected to deliver
earnings of $1.20 marking a sequential improvement of 5.2%.
We believe as the communications solution provides the
flexibility to upgrade the technology as per the requirement of
different organizations, it will continue to increase its
attractiveness to other security agencies around the world.
Financial Results of Related Companies
Motorola Solutions Inc.
), another operator in the industry, has declared strong
financial results for the fourth quarter of 2012 with adjusted
earnings of 99 cents, way ahead of the Zacks Consensus Estimate
of 92 cents. On the contrary,
) has declared a fourth quarter earnings of $1.39, heavily
missing Zacks Consensus Estimate of $1.90.
Other Stocks Set for Earnings Release
Another company, which is about to release financial results in
the upcoming days is
The Boeing Co
), which will report its fourth quarter 2012 results on Jan 30.
The current Zacks Consensus Estimate for fourth quarter stands at
$1.19 for Boeing.
Currently, Harris Corp. carries a Zacks Rank #4 (Sell).