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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.
L3Harris Technologies has been selected by the U.S. Space Force to enhance its space domain awareness and counter anti-satellite threats. The project includes upgrading the Space Defense Operations Center to the new Advanced Tracking and Launch Analysis System (ATLAS). This modernization will improve tracking and analysis of space objects amid rising anti-satellite threats. L3Harris has over 30 years of partnership with the Space Force, contributing to space superiority with approximately $17 billion in annual revenue.
L3Harris Technologies (LHX) reported Q4 2021 revenue of $4.35 billion, a 7% decline from the previous year, with full-year revenue down 2% at $17.81 billion. Net income for Q4 surged 163% to $484 million, while full-year net income rose 70% to $1.84 billion. GAAP EPS for Q4 was $2.46, up 167%, and $9.09 for the year, up 75%. Non-GAAP EPS also increased to $3.30 for Q4 and $12.95 for the year. Despite supply chain challenges, the company has initiated guidance for 2022, forecasting revenue between $17.3 billion and $17.7 billion, with organic growth of 1-3%.
L3Harris Technologies has secured a 10-year,
L3Harris Technologies (NYSE:LHX) announces the appointment of Michelle Turner as the new Senior Vice President and Chief Financial Officer (CFO), effective immediately. Turner succeeds Jay Malave, who is leaving for other career opportunities. With extensive experience in finance, particularly in the defense industry, Turner previously held roles at Johnson & Johnson and Raytheon. As CFO, she will oversee financial strategies, accounting, internal audits, and investor relations, aiming to drive growth.
L3Harris Technologies (NYSE:LHX) will host a conference call on January 31, 2022, at 8:30 a.m. ET to discuss its fourth quarter 2021 financial results. Interested participants can dial in at 877-407-6184 for U.S. and 201-389-0877 for international callers. A webcast with supporting slides will also be available on L3Harris.com. A recording will be accessible from 12 p.m. ET on the same day.
L3Harris Technologies (NYSE:LHX) has reorganized its core businesses, reducing from four to three segments: Integrated Mission Systems, Space and Airborne Systems, and Communication Systems. This decision follows a successful portfolio shaping initiative started in 2019 aimed at high-growth, technology-driven sectors. The company emphasizes its commitment to delivering innovative defense solutions. L3Harris boasts approximately $18 billion in annual revenue and serves customers in over 100 countries.
L3Harris Technologies has successfully delivered its fourth Advanced Baseline Imager (ABI) for NOAA's GOES-R series, completing the satellite technology series designed for environmental monitoring. The ABI enhances weather observation, capturing images every five minutes, and can rapidly image events like hurricanes every 30 seconds. The GOES-U satellite, integrating this imager, is set to launch in 2024. Furthermore, L3Harris is developing next-generation weather imaging concepts for NOAA's GeoXO Program, expected to boost U.S. weather forecasting accuracy in the 2030s.
L3Harris Technologies (NYSE:LHX) has successfully completed the Critical Design Review (CDR) for the U.S. Missile Defense Agency’s Hypersonic and Ballistic Tracking Space Sensor (HBTSS) program. This milestone allows the company to meet cost, performance, and schedule requirements as they initiate satellite construction. The program aims to detect and track missile threats using advanced infrared sensors. With rising concerns over hypersonic threats from China and Russia, L3Harris is prioritizing investments in innovative satellite solutions.
L3Harris Technologies (NYSE:LHX) is actively mentoring 47 teams across 15 states to encourage students in robotics competitions, showcasing its commitment to STEM education. The initiative supports elementary, middle, and high school teams with guidance from L3Harris employees and financial backing from the L3Harris Foundation. This effort aims to enhance interest in STEM fields and nurture talent for future innovation. L3Harris has a history of involvement in student technology challenges, emphasizing philanthropy and employee engagement in community initiatives.
L3Harris Technologies (NYSE:LHX) has elected Admiral Harry B. Harris, Jr. to its Board of Directors, expanding the board to 13 members. Admiral Harris, a retired U.S. Navy officer with extensive military and technological experience, served as U.S. Ambassador to South Korea from 2018 to 2021. He brings invaluable insights into 5G, cloud computing, and cybersecurity. Executive Chair William M. Brown and CEO Christopher E. Kubasik anticipate that his expertise will support the company’s long-term growth strategy and enhance global partnerships.
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