Posts Tagged ‘Harris Integrated Network Solutions’

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

broadcast technology market research, Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Aug 03 2011

Harris Corporation announced it Q4 and full year FY2011 results.

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 Harris no longer breaks out the specifics of its broadcast business.

However, the company did provide detail of some of its results, and according to Harris Corp. chairman and CEO Howard Lance the company’s broadcast business posted a “solid profit” for the 4th quarter of the company’s 2011 fiscal year.

Q4 revenue was $167.7m, an increase of 31% versus the same period a year ago (when it posted a loss of $21m), and an increase of 25% versus the previous quarter (when it turned a profit).  Lance attributed the strong performance to improved broadcast sales in international markets as well as growth in the new media market, including digital-out-of-home (DooH).

Broadcast communications orders for the 4th quarter were $152.1m up 37% versus the same period a year ago.  Significant deals closed in the quarter included a $16m contract from Turkmenistan TV for a full range of broadcast solutions from Harris.  The company also said that it was experiencing order growth in Latin America and Asia.

On the company’s conference call with equity analysts, Lance highlighted some of the company’s recent success in the DooH market.  During the fourth quarter, Harris installed its first digital signage system in the UK, at luxury retailer Harrods.  In the US, Harris is collaborating with Digital Display Networks and ABC to create what it says is one of the largest DooH advertising networks in the world, 7-Eleven TV.  Lance said that the system is already installed in more than 3,000 7-Eleven stores.

 

Full Year Results Exceed Guidance:

For the full fiscal year, Harris broadcast communications division had revenue of $553.8m, an increase of 14% versus its performance in fiscal 2010.  These results exceeded guidance that the company had issued for the division when it said it expected the broadcast division to break-even on full year revenue in region of $520m – $540m.

According to Lance, the broadcast division has shown “excellent growth” and has “vastly improved” over last year.  It was “profitable both for the quarter and for the fiscal year in total.”

 

 

Related Content:

Press Release: Harris Corporation Reports Solid Fiscal 2011 Fourth Quarter Results

Harris Corporation Q4 and Full Year FY 2011 Conference Call Transcript

Harris Corporation Q4 and Full Year FY 2011 Earnings Call Presentation

Harris Broadcast Communications Profitable in Q3 as Revenue Increases Nine Percent

Harris Says Broadcast Communications Business Improved Significantly in Q2

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

Harris Broadcast Business Making a Comeback Thanks to Improved Market Condition and New Opportunities in Digital-Out-of-Home

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Harris Broadcast Communications Profitable in Q3 as Revenue Increases Nine Percent

broadcast industry technology trends, Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 03 2011

Harris Corporation announced its results for the third quarter of its fiscal year.

On an overall basis, the company’s revenue was $1.41Bn, an increase of 6% versus the same period a year ago.  However the company’s profit fell by almost 16%.

Harris Corporation’s full results are covered elsewhere.  This post looks specifically at the results of the company’s broadcast communications business.

This is the first quarter since Harris strategically realigned its business segments, and rolled the broadcast communications business into a newly created “Integrated Network Solutions” (ISN) business unit.

Now that Harris broadcast communications business is part of ISN, its performance in the sector is somewhat more opaque than in the past, with only top level numbers disclosed by the company.

Broadcast Communications revenue was $134.1m, an increase of 9% versus the same period a year ago, (when the company posted an operating loss of $5m on revenue of $123m), and an increase of 3% versus the previous quarter.

On the company’s conference call with equity analysts, Harris Corporation CEO Howard Lance called the performance of the broadcast business a “significant year-over-year improvement.” Lance went on to say that the Harris broadcast business turned a profit during the quarter and was still on track to achieve break even performance for the full year.

In guidance issued last quarter, Lance said that the Harris expects its broadcast division to break-even on full year revenue in region of $520m – $540m, a 7-11% revenue increase versus the actual results during the previous fiscal year.

Harris broadcast received several major orders during the quarter, including a $9m contract from a central-Asian broadcaster, and a digital-out-of-home / IPTV deal with Madison Square Garden in New York that will commence this summer and be completed in time for the 2013-13 season. The company also received orders during the quarter from Gray Television, Cox Broadcasting and CBS.

The Harris broadcast business accounted for 29% of the ISN division’s $463m revenue. The ISN business unit’s revenue increased 23% year-over-year, however most of this growth came via acquisition.  On an organic basis, ISN revenue was flat year-over-year.
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Related Content:

Harris Press Release: Harris Corporation Reports Fiscal 2011 Third Quarter Results

Transcript of Harris Q3 conference call with equity analysts

Harris Says Broadcast Communications Business Improved Significantly in Q2

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

Harris Broadcast Business Making a Comeback Thanks to Improved Market Condition and New Opportunities in Digital-Out-of-Home

Harris Q3 2010 Results for Broadcast Communications Division

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

Broadcast technology vendor financials | Posted by Joe Zaller
Mar 08 2011

Harris Corporation announced that it has strategically realigned its operating businesses to “provide increased market focus and address the fast-growing global market for integrated communications and information technology and services.”

Under the company’s previous structure, Harris had three operating divisions: RF Communications, Government Communications Systems, and Broadcast Communications.  Under the new structure Harris retains three business units, but has added a new division called Integrated Network Solutions (ISN), which includes the broadcast business.

In addition to broadcast communications, the new ISN segment includes the Harris IT Services, Harris CapRock Communications, Healthcare Solutions, and Cyber Integrated Solutions businesses (all of which were previously part of the Government Communications Systems segment).  

The company says that its new ISN segment will provide IT services, managed services, cyber integration, interoperability, imaging, and digital media management solutions to support government, energy, healthcare, broadcast, and enterprise networks.  It will build on the company’s strengths in established markets, while extending its reach into new markets, including healthcare, energy, cloud computing, sports, entertainment, and retail venues.  

Harris Corp. EVP and COO Dan Pearson has been named acting group president of the new segment. He had this to say about the new ISN business unit: “Commercial businesses and government customers around the globe are increasingly seeking total solutions – combining innovative technology with managed services.  With a flexible technology and managed services approach, Integrated Network Solutions is uniquely positioned to create tailored end-to-end solutions for customers seeking a trusted communications and IT partner.”

Harris says it will begin reporting financial results under the new segment structure effective with its third quarter of fiscal 2011.

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The full Harris strategic reorganization announcement is here.

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Related Content:

Harris Broadcast Business Making a Comeback Thanks to Improved Market Condition and New Opportunities in Digital-Out-of-Home

Harris Says Broadcast Communications Business Improved Significantly in Q2

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