Harris Corporation Reports Increased Sales And Orders For The Third Quarter - Company Financial Information

Cambridge Telcom Report, May 1, 2000

"The acquisitions of TRT Lucent Technologies and Louth Automation are part of the company's strategic initiatives to expand product lines and geographic reach in high-growth businesses," noted Farmer. "We have made great strides in strengthening our positions in critical commercial market areas. The government segment is expected to show improved results, with positive year-to-year comparisons beginning in the fourth quarter. Our confidence is based on significant new wins this year and a lengthening opportunity list."

"During the quarter, we continued to invest in Harris' future in key areas including information systems and the expansion of the worldwide sales organization. We will complete the bulk of these investments, which are necessary to the successful repositioning of the company, by fiscal year-end," Farmer said. "Near-term, we believe the overall improvement in our financial performance will continue during the fourth quarter, although there will be some remaining impact associated with exit of the switch business. Looking further, we believe this year's repositioning actions will permit Harris to begin FY' 2001 with strong growth in both sales and income."

Harris Corporation (NYSE:HRS) is an international communications equipment company focused on providing product, system, and service solutions that take its customers to the next level. The company provides a wide range of products and services for commercial and government communications markets such as wireless, broadcast, government, and network support. The company has sales and service facilities in nearly 90 countries.

Note: In conjunction with the third quarter earnings release, the company will conduct a conference call on Wednesday, April26 at 2 p.m. (EST). Interested individuals are invited to listen to the call by using the dial in number: (719) 457-2625.