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L3Harris Technologies, Inc. (NYSE: LHX) is a dynamic global aerospace and defense technology innovator, providing advanced solutions to meet mission-critical needs across multiple domains including space, air, land, sea, and cyber. With an annual revenue of approximately $18 billion and a workforce of 47,000 employees, L3Harris serves customers in over 100 countries.
The company specializes in C4ISR systems, which encompass command, control, communications, computers, intelligence, surveillance, and reconnaissance. L3Harris also produces uncrewed aerial vehicles, sophisticated sensors, and avionics systems, and offers military and commercial training services. Notably, it maintains the U.S. Federal Aviation Administration's communications infrastructure, ensuring seamless operations and safety.
In July 2023, L3Harris acquired Aerojet Rocketdyne, a prominent supplier of rocket motors, bolstering its capabilities in the space and defense industry. This acquisition marks a significant step in expanding the company’s portfolio and enhancing its role in critical aerospace systems.
Recent developments include the creation of the Fisica platform through the sale of certain antenna and test equipment businesses to Kanders & Company for $200 million. This strategic move is expected to foster growth and innovation in the defense sector.
Additionally, L3Harris has entered into a five-year contract with Iridium Communications for the Iridium® Satellite Time and Location (STL) service. This partnership ensures robust timing synchronization for L3Harris’s nationwide communication networks, crucial for supporting the National Airspace System operations.
L3Harris is committed to delivering cutting-edge technologies and services that address the evolving demands of defense and commercial markets. With a solid financial foundation and strategic partnerships, the company is well-positioned for future growth and success.
Duke Energy One and L3Harris Technologies have unveiled a new service providing customized 3D simulations for nuclear facilities. This service aims to address operational challenges while improving efficiency and reducing costs. The immersive simulations utilize ultramodern 3D laser scanning technology to create tailored models, enhancing safety and response preparedness. The comprehensive solution includes decision-making tools, aiding nuclear operators in planning and mitigating radiation risks. This collaboration highlights the importance of nuclear energy for a clean energy future.
Sidus Space (NASDAQ:SIDU) has selected L3Harris Technologies (NYSE:LHX) for its InControl™ and OnTime™ software to manage the LizzieSat™ Constellation. InControl enables comprehensive satellite command and control, while OnTime facilitates mission planning and execution tracking. This collaboration, commencing at the Cape Canaveral facility, aims to optimize operations for over 100 satellites, reducing operational costs significantly. LizzieSats are innovative low Earth orbit microsatellites designed for rapid technology testing and integration, supporting Sidus’s Space-as-a-Service model.
L3Harris Technologies has been awarded a five-year contract by the U.S. Department of Defense (DOD) for artificial intelligence services. This contract, part of the Joint Artificial Intelligence Center (JAIC) initiative, focuses on enhancing data readiness for AI development. It aims to streamline data sharing, discovery, and governance across DOD teams, facilitating faster AI solutions. With over $17 billion in annual revenue, L3Harris supports critical defense services and previously assisted in AI development for intelligence gathering.
L3Harris Technologies (NYSE:LHX) announced a significant increase in its IDIQ contract ceiling with the U.S. Special Operations Command from
The L3Harris Technologies (NYSE:LHX) high-resolution Advanced Baseline Imager (ABI), crucial for NOAA's weather monitoring, captured its first image after launch. This ABI aboard the GOES-18 satellite provides enhanced monitoring of severe weather every 30 seconds across the western U.S., Hawaii, and Alaska. The satellite is slated to become fully operational soon, enhancing weather prediction and response capabilities. L3Harris is also developing next-generation satellite technologies, contributing significantly to global weather monitoring efforts.
Virgin Orbit announces a significant partnership with L3Harris Technologies to acquire two Boeing 747-400 airframes, enhancing its satellite launch capabilities for U.S. national security and allied demands. The modifications will allow for the delivery of rockets and support equipment from foreign spaceports, with the second airborne launcher expected to be operational by 2023. This strategic move aims to double Virgin Orbit's fleet capacity, ensuring greater mission flexibility and expanding its global service reach in the low Earth orbit market.
L3Harris Technologies (NYSE:LHX) has announced the election of Joanna L. Geraghty to its Board of Directors, expanding the board to 14 members. Geraghty is currently the President and COO of JetBlue Airways, bringing extensive experience in operations and technology. Her leadership has been pivotal in JetBlue's growth into an international airline. L3Harris aims to leverage her expertise to enhance its international market presence and address critical customer missions, as the company positions itself to meet the growing demand for innovative aerospace and defense solutions.
L3Harris Technologies (NYSE:LHX) announced its first quarter fiscal year 2022 results in an investor letter. The company reported annual revenues exceeding $17 billion and employed 47,000 personnel worldwide, serving customers across over 100 countries. A teleconference is scheduled for April 29, 2022, at 8:30 a.m. ET to discuss the results, with recordings available post-call.
L3Harris Technologies (NYSE:LHX) plans to release its first-quarter fiscal year 2022 financial results on April 28, 2022 at 4:30 p.m. ET. The company will issue an Investor Letter, consolidating prepared remarks, earnings release, and webcast slides. A conference call hosted by company leadership is scheduled for the following morning, April 29, 2022, at 8:30 a.m. ET. The call will last approximately 45 minutes, allowing for a Q&A session.
L3Harris is a global aerospace and defense technology innovator with approximately $17 billion in annual revenue and 47,000 employees.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.12 per share, payable on June 17, 2022, to shareholders on record as of the close of business on June 3, 2022. L3Harris is a leading aerospace and defense technology innovator, generating over $17 billion in annual revenue and employing around 47,000 people worldwide, serving customers in more than 100 countries.
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