US Department of Navy Awards Harris Corporation $765 Million IDIQ Contract for Tactical Radios | Harris

 

ROCHESTER, N.Y.

October 13, 2017

Highlights:

  • Supports current and emerging Department of Navy tactical radio requirements
  • Includes the Harris AN/PRC-117G, AN/PRC-152A and the new AN/PRC-160 radio
  • Replaces fully realized $300 million IDIQ contract that expired in August

The U.S. Department of Navy has awarded Harris Corporation (NYSE:HRS) a five-year, $765 million ceiling, single-award IDIQ contract to provide tactical radios and ancillary devices to the Navy and Marine Corps.

This new contract, which replaces a $300 million IDIQ contract that expired in August, enables the U.S. Department of Navy to procure radios including the Harris AN/PRC-117G, AN/PRC-152A and the new AN/PRC-160 wideband HF/VHF radio, as well as peripheral attachments to support handheld, manpack, vehicular and base station mission needs. Additionally, the contract’s flexibility allows Harris to provide next-generation products as required.

"This award stems from our successful long-standing track record of developing and delivering the most advanced family of tactical radios,” said Chris Young, president, Harris Communication Systems. “The award enables Harris to continue to meet the Navy and Marine Corps’ current and emerging needs so that they can successfully accomplish their missions around the globe.”

About Harris Corporation
Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. Learn more at harris.com.

US Army Awards Harris Corporation $461 Million Ceiling IDIQ Contract for LMR Network Modernization | Harris

LYNCHBURG, Va.

July 10, 2017

Highlights:

  • One of two companies awarded five-year IDIQ contract
  • Focused on modernizing U.S. Army's existing land mobile radio system infrastructure
  • Move from proprietary technology to open standards ensures interoperability into the future

Harris Corporation (NYSE:HRS) has been awarded a five-year, $461 million ceiling, multi-award IDIQ contract to modernize the U.S. Army's mission-critical communications network. The contract was awarded in the first quarter of Harris’ fiscal 2018.

Under the contract, Harris will upgrade the land mobile radio (LMR) system infrastructure on Army bases across the U.S., as well as replace existing systems with the latest technology. Harris received its first order from the contract for two Voice, Interoperability, Data and Access (VIDA®) cores, support services and integration of the first Army installation into the enterprise network.

“Opening up this critical project to competition is a major step forward in bringing richer innovation, better technology, heightened responsiveness and more competitive pricing to the customer,” said Nino DiCosmo, president, Harris Public Safety and Professional Communications. “Our Army customer clearly recognizes the value of competition, applying open standards and open architecture to its network. This forward-thinking approach will allow multiple vendors and multiple technologies to be integrated, ensuring interoperability into the future.”

Harris Public Safety and Professional Communications is a leading supplier of communications systems and equipment for public safety, federal, utility, commercial and transportation markets. The business has more than 80 years of experience in public safety and professional communications, and supports more than 500 systems around the world.

About Harris Corporation
Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Space and Intelligence Systems and Electronic Systems. Learn more at harris.com.

Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs are forward-looking and involve risk and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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Harris Corporation Completes Sale of its CapRock Communications Business to SpeedCast International

MELBOURNE, Fla.

January 3, 2017

Harris Corporation (NYSE:HRS) has completed the previously announced sale of its CapRock Communications commercial business to SpeedCast International Limited (ASX: SDA) for $425 million in cash. Proceeds from the transaction will be used to pay down debt and return cash to shareholders.

CapRock, which was part of the company’s Critical Networks segment, is a premier global provider of managed satellite, terrestrial and wireless communications solutions for the cruise and energy markets.

About Harris Corporation
Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 100 countries and has approximately $7.5 billion in annual revenue and 21,000 employees worldwide. Learn more at harris.com.

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James F. Albaugh Appointed to Harris Corporation Board of Directors; Roger B. Fradin Nominated for Election to Board MELBOURNE, Fla. August 31, 2016

Harris Corporation (NYSE:HRS) today announced that James F. Albaugh has been appointed to its Board of Directors, effective September 1, 2016. Harris also announced that Roger B. Fradin has been nominated for election to its Board. Fradin's nomination will be voted on, along with all other director nominations, by shareholders at Harris' 2016 Annual Meeting of Shareholders on October 28, 2016.

Albaugh, 66, is a senior adviser to Perella Weinberg Partners. He served as senior advisor to The Blackstone Group from December 2012 to July 2016. Prior to that, he had a 37-year career at Boeing, where he held various leadership positions, including president and CEO of the Commercial Airplane business, president and CEO of the Integrated Defense Systems business and president and CEO of the Space and Communications business.

Albaugh is a director of American Airlines Group, Inc. (NASDAQ:AAL) and B/E Aerospace, Inc. (NASDAQ:BEAV), and previously served as a member of the Board of Directors of TRW Automotive Holdings Corp. He also is chairman of the National Aeronautic Association and is past president of the American Institute of Aeronautics and Astronautics. He holds bachelor's degrees in Mathematics and Physics from Willamette University and a master's degree in Civil Engineering from Columbia University. Albaugh's term expires at the 2016 Annual Meeting of Shareholders, when he will stand for re-election.

Fradin, 63, is vice chairman of Honeywell International Inc. During his 16-year career with Honeywell, he has held leadership positions, including president and CEO of the company's Automation and Controls business. He joined Honeywell in 2000 when the company acquired Pittway Corporation. At Pittway, he helped lead the entrepreneurial team that built the company from an early-stage enterprise into an organization with nearly $2 billion in annual revenue.

Fradin is a director of Pitney Bowes Inc. (NYSE:PBI) and MSC Industrial Direct Co., Inc. (NYSE:MSM). He holds bachelor's and master's in business administration degrees from the Wharton School at the University of Pennsylvania.

"Jim and Roger are tremendous additions to Harris' Board of Directors," said William M. Brown, chairman, president and chief executive officer. "Both are accomplished business leaders with proven track records leading large global organizations. Jim brings extensive experience in the aerospace and defense industry and in building strong working relationships with government customers. Roger has significant global operational and financial expertise, with demonstrated successes driving exceptional business growth. We look forward to the many contributions that they will bring to our already strong board."

The appointment and nominations of Albaugh and Fradin resulted from the process for Harris and JANA Partners LLC to cooperate in good faith to identify two mutually acceptable individuals independent of JANA to be added as independent directors to the Harris Board pursuant the Cooperation Agreement entered into in July 2016.

About Harris Corporation Harris Corporation is a leading technology innovator, solving customers' toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 100 countries and has approximately $7.5 billion in annual revenue and 21,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems and Critical Networks. Learn more at harris.comhttps://www.harris.com/.

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[James F. Albaugh]

[Roger B. Fradin]

Harris Corporation and JANA Partners Reach Agreement

Harris Corporation (NYSE: HRS) and JANA Partners today announced an agreement for the future appointment of two new mutually agreed independent directors to the Harris Board of Directors. Both individuals will be included in Harris' slate of directors nominated for election at the company's 2016 Annual Meeting. JANA is currently one of the company's top ten largest shareholders.

Commenting on the agreement with JANA, Harris Chairman, President and CEO William M. Brown said, "We have an ongoing dialog with our shareholders and welcome their input. At Harris, we have a long history of strong corporate governance and are firmly committed to maximizing long-term value for all of our shareholders. We look forward to the contributions that the two new directors will bring to our Board."

Barry Rosenstein, Managing Partner of JANA, commented, "We believe Harris is a leader in its core businesses and has the potential to unlock significant additional value. We look forward to continuing to work constructively with the company to add new directors who can help the full Board continue to pursue maximum value for all shareholders."

In connection with this agreement, JANA has agreed to certain standstill, voting and support commitments that are expected to continue until June 2017. The complete agreement between Harris and JANA will be filed on a Form 8-K with the Securities and Exchange Commission.

About Harris Corporation Harris Corporation is a leading technology innovator, solving customers' toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in about 100 countries and has approximately $7.5 billion in annual revenue and 21,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems and Critical Networks. Learn more at harris.comhttps://www.harris.com/.

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Forward-Looking Statements This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.