MELBOURNE, Fla. (AP) — MELBOURNE, Fla. (AP) — L3Harris Technologies, Inc. (LHX) on Thursday reported first-quarter net income of $386 million.
On a per-share basis, the Melbourne, Florida-based company said it had profit of $2.04. Earnings, adjusted for asset impairment costs and non-recurring costs, were $2.41 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.32 per share.
The technology and communications company posted revenue of $5.13 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $5.23 billion.
L3Harris expects full-year earnings in the range of $10.30 to $10.50 per share, with revenue in the range of $21.4 billion to $21.7 billion.
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