Harris Corp. (HRS - Analyst Report) recently announced that it has won a contract worth $40 million from the Royal Brunei Armed Forces to supply Falcon tactical radios.
Harris’ tactical communications system portfolio includes its industry-leading Falcom III 7800 tactical radio family. Brunei’s military service will get different types of industry Falcon III tactical radios which will not only help the department to boost its voice and data communication services but also solve mission critical issues by providing logistical and customer field support.
Recently, Harris Corp. reported third-quarter 2013 financial results. It met the Zacks Consensus Estimate but the top line missed the same. Total orders generated during the quarter were $1.13 billion out of which $297 million came from the Tactical Radio Communications business. Moreover, the Tactical Radio Communications business generated $276 million during the quarter while the total order backlog in the Tactical Radio Communications segment was $582 million.
Harris currently carries a Zacks Rank #3 (Hold).
Harris Corporation, based in Melbourne, Fla, remains one of the leaders in the public safety and professional communication market and boasts products ranging from industry leading multi-band, multi-mode radios, public safety-grade broadband voice, video and data solutions.
Other Stocks to Consider
While we prefer to avoid Harris until we see signs of improvement in the company's performance, other stocks in this industry that are worth considering include ShorTel Inc. (SHOR - Snapshot Report), Ubiquiti Networks Inc. (UBNT - Analyst Report) and InterDigital Inc. (IDCC - Snapshot Report). While ShorTel and Ubiquiti currently have a Zacks Rank #1 (Strong Buy), InterDigital has a Zacks Rank #2 (Buy).