Harris Corp. (HRS - Analyst Report) recently announced that it has won a contract worth $45 million from the Department of Homeland Security (DHS) Immigration and Customs Enforcement (ICE) tactical communications networks.
Harris, in collaboration with Computer Sciences Corporation and other subcontractors, will offer 24/7 technical support to the 15,000 law enforcement officers. The department’s tactical communications networks located across the U.S., Puerto Rico and the U.S. Virgin Islands will also get full technical support from Harris.
Implementations of Harris’s secure communication system will not only reduce costs but will also provide reliable and faster service to various departments.
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. The RF Communications Segment contributed $417.7 million of revenues during the recently reported quarter, of which Public Safety and Professional Communications contributed 34%.
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).