) recently announced that it has won a $960 million deal from the
U.S. Air force Network-Centric Solutions-2 (NETCENTS-2)
Application Services. Per the deal, Harris will supply indefinite
amount of IT related products and services for three years. The
contract can be extended for an additional year.
BOEING CO (BA): Free Stock Analysis Report
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HARRIS CORP (HRS): Free Stock Analysis Report
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NETCENTS-2 supports the U.S. Air Force department by offering
migration, integration, training, help desk, testing and program
operations. Thus, selecting Harris will certainly aid the U.S.
Air Force in upgrading its service by installing secure
communications network and mission-critical applications, saving
cost and time.
Recently, Harris reported fourth-quarter 2013 financial results
where the bottom line met the Zacks Consensus Estimate and the
top line surpassed the same. In the reported quarter, the segment
generated orders worth $646 million, $498 million from the
Tactical Radio Communications business and $148 million from the
Public Safety and Professional Communications business. Total
order backlog in the Tactical Radio Communications segment was
$743 million and $598 million and in the Public Safety and
Professional Communications segment was $743 million and $598
Thus, we believe that such strong order backlog coupled with
continuous order wins will certainly boost the company's top line
in the forthcoming quarters.
Harris currently carries a Zacks Rank #2 (Buy).
Harris Corporation, based in Melbourne, Fla., remains one of the
leaders in the public safety and professional communication
market and boasts products ranging from industry leading
multi-band, multi-mode radios, public safety-grade broadband
voice, video and data solutions.
Other Stocks to Consider
The stocks which are performing better in the defense sector and
public safety are
General Dynamics Corp.
Motorola Solutions Inc.
). All three surpassed the Zacks Consensus Estimate in the most