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Harris Corporation Awarded Navy Contract

HRS   Telecommunications and technology provider Harris Corp. (NYSE:HRS – $82.29) has been awarded a contract with a ceiling value of $228 million to support the U.S. Navy’s maritime mine countermeasures (MCM) efforts. The five-year contract includes a three-year base and two one-year options. Harris will provide solutions to support current systems and future technologies in MCM; anti-submarine warfare; intelligence, surveillance and reconnaissance; and force protection. The systems, which reflects a thirty-year partnership with the Navy’s ordnance disposal programs, will support countermeasures on and beneath the ocean surface and protect national interest in secure sea transit. Harris will compete for task orders for specification and design, fabrication, installation, test and evaluation, fielding, maintenance, training, and configuration and program management of both hardware and software. The shares of Harris Corp. have held up well in a volatile market and in particular within the difficult landscape of the defense industry. The shares yield 2.3% at current levels and can be held with the potential integration advantages with recently acquired Exelis.



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