Harris Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Harris Corp (NYSE:HRS) will unveil its latest earnings on Tuesday, January 31, 2012. 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 $1.18 per share, a rise of 2.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.17. Between one and three months ago, the average estimate moved up. It has dropped from $1.19 during the last month.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by one cent, reporting net income of $1.06 per share against a mean estimate of profit of $1.05 per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 4.9% in revenue from the year-earlier quarter to $1.51 billion.

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

A Look Back: In the first quarter, profit fell 25.8% to $121.6 million ($1.01 a share) from $163.9 million ($1.27 a share) the year earlier, but exceeded analyst expectations. Revenue rose 3.9% to $1.46 billion from $1.41 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 14.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 6.3% in the third quarter of the last fiscal year from the year-ago quarter and 18.1% in the second quarter of the last fiscal year.

The company has seen net income fall in each of the last three quarters. Net income fell 11.8% in the fourth quarter of the last fiscal year and 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 November 25, 2011 to January 25, 2012, the stock price had risen $5.58 (16.8%) from $33.26 to $38.84. The stock price saw one of its best stretches over the last year between January 4, 2012 and January 12, 2012 when shares rose for seven-straight days, rising 5.9% (+$2.17) over that span. It saw one of its worst periods between November 15, 2011 and November 25, 2011 when shares fell for eight-straight days, falling 12.5% (-$4.77) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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