Harris Revenue Growing Thanks to Acquisitions

Harris says its broadcast revenue was up in its first fiscal quarter, with most of that the result of three acquisitions.

In releasing its latest financials, the company stated revenue in its Broadcast Communications segment was $140 million in the quarter, up 59 percent compared to $88 million in the same period last year, primarily as a result of the addition of Leitch Technology, Optimal Solutions Inc. and Aastra Digital Video. Its financial statement did not detail trends in broadcast radio activity.

Chairman Howard L. Lance stated, "Acquisitions in our Broadcast business are being integrated and are contributing to the company's expanding backlog."

For the parent company overall, Harris said quarterly revenue was $947 million, up 25 percent, with net income up 67 percent. The company has annual sales of $3.5 billion and about 14,000 employees.

(Radio World)