Harris Corporation HRSreported healthy third-quarter fiscal 2018 results, wherein both the top line and the bottom line surpassed the respective Zacks Consensus Estimate.
Earnings from continuing operations increased to $1.67 per share from $1.31 in the year-ago quarter on top-line growth and tax benefit.
Revenues for the quarter increased 5% year over year to $1,568 million, supported by growth across all three segments led by Electronic Systems and Communication Systems. The top line exceeded the Zacks Consensus Estimate of $1,548 million.
Total operating income for the quarter was $256 million compared with $275 million in the year-ago quarter. Operating margin was 16.3% compared with 18.5% in the prior-year period, due to higher operating expenses in the reported quarter.