) recently won a contract from the Ministry of Health of Saudi
Arabia worth $8 million. As per the contract, Harris will provide
public safety communications support to various hospitals across
Harris will deploy its Harris P25 system including mobile and
radios to enhance communication facilities during medical
emergencies and provide secure and effective voice and data
communication for EMS personnel.
A few days back, Harris won a similar contract worth $19 million
from the U.S. Department of Veteran Affairs' Office of Information
and Technology. The two-year contract requires Harris to build a
wireless network infrastructure for healthcare mobility across the
nationwide Veteran Affairs center. Such contract wins will drive
the Public Safety and Professional Communications unit of the RF
Communication segment of the company going forward.
In the recently concluded quarter, Harris surpassed both the
Zacks Consensus EPS and revenue estimate. In the reported quarter,
the RF Communication segment, which includes Tactical Radio
Communications and Public Safety and Professional Communications,
garnered $537.7 million revenue, of which "Public Safety and
Professional Communications" contributed $80.7 million. It also
generated new orders worth $95 million with a total order backlog
of $635 million.
Harris Corp's consistent deal wins and huge order backlog are
particularly encouraging, since it remains exposed to stiff
competition from companies like
General Dynamics Corp.
), which also provide high-end public safety communication
Currently, Harris Corporation has a Zacks #3 Rank, implying a
short-term Hold rating on the stock. Based in Melbourne, Florida,
Harris 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.
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