Harris Corp First Quarter Earnings on Deck

S&P 500 (NYSE:SPY) component Harris Corp (NYSE:HRS) will unveil its latest earnings on Wednesday, October 26, 2011. Harris Corporation is an international communications and information technology company serving commercial markets and government.

Harris Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.05 per share, a decline of 18% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.15. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.05 during the last month.

Past Earnings Performance: Last quarter, the company beat estimates by one cent, coming in at net income of $1.24 a share versus the estimate of profit of $1.23 a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 3.5% in revenue from the year-earlier quarter to $1.46 billion.

Analyst Ratings: Analysts are bullish on this stock with nine analysts rating it as a buy, none rating it as a sell and four rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 11.8% to $133.5 million ($1.06 a share) from $151.4 million ($1.16 a share) the year earlier, but exceeded analyst expectations. Revenue rose 14.5% to $1.67 billion from $1.46 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 6.3% in the third quarter of the last fiscal year from the year earlier, climbed 18.1% in the second quarter of the last fiscal year from the year-ago quarter and 16.8% in the first quarter of the last fiscal year.

The company has seen net income fall in each of the last two quarters. Net income dropped 16.1% in the third quarter of the last fiscal year.

Competitors to Watch: ViaSat, Inc. (NASDAQ:VSAT), EMS Technologies, Inc. (NASDAQ:ELMG), Motorola Solutions Inc (NYSE:MSI), Comtech Telecomm. Corp. (NASDAQ:CMTL), ITT Corporation (NYSE:ITT), Globecomm Systems, Inc. (NASDAQ:GCOM), SeaChange International (NASDAQ:SEAC), Avid Technology, Inc. (NASDAQ:AVID), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), and Technicolor S.A. (NYSE:TCH).

Stock Price Performance: During July 27, 2011 to October 20, 2011, the stock price had fallen $4.77 (-11.6%) from $40.99 to $36.22. The stock price saw one of its best stretches over the last year between January 3, 2011 and January 12, 2011 when shares rose for eight-straight days, rising 6.4% (+$2.84) over that span. It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight-straight days, falling 12.4% (-$5.34) over that span. Shares are down $8.28 (-18.6%) year to date.

(Source: Xignite Financials)

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