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HARRIS OUTLINES STRATEGY FOR FUTURE GROWTH

 MELBOURNE, Fla., Oct. 22 /PRNewswire/ -- Harris Corporation (NYSE: HRS) expects another year of solid growth in fiscal 1994, company officials told shareholders today.
 Speaking at Harris' 1993 Annual Shareholders Meeting held in Melbourne, Fla., Harris Chairman and Chief Executive Officer John T. Hartley said, "We've made a good start to the new fiscal year, and we continue to expect a significant increase in earnings for the year as a whole."
 Earlier this week, the company reported a 19 percent increase in net income from operations, together with higher sales and record orders for the first quarter ended Sept. 30.
 In his report on the company's four business areas, Harris President and Chief Operating Officer Phillip W. Farmer described Harris' strategy for continuing growth. He said:
 -- The Electronic Systems Sector will continue with its successful strategy of diversifying its defense-oriented technologies into other markets, including air traffic, law enforcement, space, and state and local governments. "Although total DOD expenditures will show a decrease over the next several years, we believe the electronics portions of the defense market that we serve will hold close to current levels, and that Harris is well-positioned to increase its share of available defense dollars," Farmer said.
 -- The Semiconductor Sector is expected to continue to show strong growth in earnings as the sector's product mix shifts from older products to new, more profitable products introduced during the past two years. The sector is focusing on developing new, value-added circuits with higher margins for markets throughout the world such as automotive, telecommunications, computers, and others.
 -- The Communications Sector will continue to expand its international presence, with particular focus on countries that are developing or modernizing their communication infrastructures. International sales have increased from 30 percent to nearly 50 percent of the sector's total during the past four years and Farmer cited recent joint ventures in China and Russia as examples of this continuing expansion.
 -- Harris' Lanier Worldwide subsidiary is continuing to gain market share in the domestic office equipment market and is showing profitable growth internationally with the exception of Europe. "Losses in Europe were reduced in the first quarter and, given an improvement in the European economies, we expect to return to profitable operations in the second half of the year," Farmer said. Lanier has also taken steps to increase the flow of new products that it offers to its customers.
 Summarizing the company's outlook for the year, Farmer said, "We believe we're well-positioned for a good year in all four of our businesses in fiscal 1994."
 In other meeting activity, shareholders re-elected three members of the board of directors, John T. Hartley, Robert Cizik, and C. Jackson Grayson Jr., whose terms expired at the meeting. The terms of the six continuing members will expire at subsequent annual meetings. Shareholders also voted to continue Ernst & Young as auditors for the company.
 Harris Corporation, with worldwide sale of more than $3 billion, is focused on four major businesses: electronic systems, semiconductors, communications, and Lanier Worldwide office equipment.
 -0- 10/22/93
 /CONTACT: Jim Burke, director of media relations, Harris Corporation, at 407-727-9126/
 (HRS)


CO: Harris Corporation ST: Florida IN: CPR ARO SU:

AW -- FL008 -- 5722 10/22/93 12:14 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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