harris corporation

“Our operating segments
are focused on an
expanded set of global
vertical markets where
Harris technologies can
provide compelling,
value-added solutions –
defense and homeland
security, national
intelligence, civilian
government, international
government systems,
public safety, energy,
maritime, new media
and healthcare.”
howard l. lance
4
• Expanding our Healthcare Solutions portfolio by acquiring Carefx Corporation, a leading provider
of interoperability workflow solutions for government and commercial healthcare providers.
• Leveraging approximately $1 billion in government and company-funded research activities to develop
new technologies and introduce new products and services in each of the company’s segments.
We will continue to use acquisitions, investments in new technology and other internal initiatives
to expand our addressable markets and drive future growth.
share repurchase and dividend increase
On August 2, 2011, the company announced a new $1 billion share repurchase authorization and its plans
to repurchase up to $500 million in shares by the end of calendar 2011. The Board also increased the quarterly
cash dividend rate by 12 percent, from 25 cents per share to 28 cents per share, raising the annualized
cash dividend rate to $1.12 per share. It marked the company’s tenth consecutive annual dividend increase.
Both of these actions reflect our continuing commitment to create shareholder value, confidence in
our financial strength, and positive long-term outlook.
corporate citizenship
Last year also exemplified Harris’ commitment to being a trusted citizen in the communities where we have
operations and in the world at large. We contributed millions of dollars to community organizations and
nonprofits, while our employees volunteered more than 52,000 hours of their time to various charities and
educational initiatives. The largest portion of our contributions remains focused on higher education,
targeted to the science, math and engineering programs that are so critical to developing the technology
workforce of tomorrow.
ceo succession plan
On a personal note, I announced in May that I will be retiring in fiscal 2012. We have accomplished a
tremendous amount since I joined Harris in January 2003, and I am very proud of our entire team.
We continue to post solid financial results and are well positioned across our diversified served markets
with strong customer relationships, leading technologies and deep management talent. With Harris
on a strong footing, I believe that this is the right time for me to move on to the next chapter of my life.
I am confident the Board will select a world-class leader to continue to grow the company and build
on the strong base we have in place today.
Sincerely,
howard l. lance
Chairman, President and Chief Executive Officer
August 26, 2011
* Amounts used in this Annual Report that are considered non-GAAP financial measures are defined and reconciled to the most directly
comparable GAAP financial measures on page 9 of this Annual Report. GAAP refers to U.S. generally accepted accounting principles.