MELBOURNE, Fla. (AP) — MELBOURNE, Fla. (AP) — L3Harris Technologies, Inc. (LHX) on Thursday reported fourth-quarter net income of $300 million.
On a per-share basis, the Melbourne, Florida-based company said it had net income of $1.59. Earnings, adjusted for one-time gains and costs, were $2.86 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.76 per share.
The technology and communications company posted revenue of $5.65 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $5.8 billion.
For the year, the company reported profit of $1.61 billion, or $8.53 per share. Revenue was reported as $21.87 billion.
L3Harris expects full-year earnings in the range of $11.30 to $11.50 per share, with revenue in the range of $23 billion to $23.5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LHX at https://www.zacks.com/ap/LHX
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