Harris Reports Q1 2012 Results, Says Broadcast Revenue Increasing

Posted by Joe Zaller
Oct 27 2011

Harris Corporation reported results for the first quarter of its 2012 fiscal year.

The company’s broadcast division is now part its Integrated Network Solutions (INS) unit, which was created when Harris strategically realigned its business segments in March of 2011, so the company no longer breaks out the specifics of its broadcast business.

Thus the information provided by the company about the broadcast business was scant compared to past earnings announcements.

Here’s what they did say:

Harris Corp. chairman and CEO Howard Lance said that the broadcast division it continues to see revenue growth in international regions: the South America, Middle East and Asia. In the company’s earnings presentation Harris said that broadcast was continuing to benefit from international demand.

Significant broadcast orders during the quarter, included $3 million from TV Azteca for the first live 3D transmissions throughout Mexico.

Harris also said it received a $3 million order from Svyaz Engineering, the company’s Russian manufacturing partner, with which it will begin local production of digital television transmitters. According to Harris, Russia is currently in the initial stages of its transition from analog to digital, and will this will ultimately include the replacement of 22,000 transmitters across the country. The Russian digital transition will take place over the next several years, and Harris believes it is well positioned to participate significantly in this revenue opportunity.

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Broadcast Business Impacted by Flooding in Thailand

On the conference call with equity analysts, Lance said the company “recently learned that one of our contract manufacturers located in Thailand has been impacted by the recent flooding. It’s really too soon for us to understand the extent of the impact and what impact it might have on the second quarter results in broadcast. We’re working feverishly to mitigate any impact. All of our finished goods have been moved out of Thailand, and our suppliers in the process of moving production and starting it at an alternate location.”

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Related Content:

Press Release: Harris Corporation Reports Fiscal 2012 First Quarter Results and Significantly Higher Orders

Harris Corporation Q1 FY 2012 Conference Call Transcript

Harris Corporation Q1 FY 2012 Earnings Call Presentation

Harris Corporation Strategically Realigns Business Segments; Broadcast Communications Rolled into New “Integrated Network Solutions” Unit

Previous Quarter: Harris Broadcast Division Posts Strong Growth in Q4 2011, Returns to Profitability for Quarter and Full Year

Previous Year: Harris Broadcast Division Reports $9m Loss on Rising Orders for First Quarter of 2011 Fiscal Year

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