2005 (pdf) - Harris

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AT A GLANCE Percent Revenue by Business Segment Dollars in millions except per share amounts 2005 2004 2003 Revenue $3,000.6 $2,518.6 $2,060.6 Net Income 202.2 132.8 59.5 Per Share Net Income 1.46 0.97 0.45 Return on Average Assets 8.6% 6.2% 3.0% Return on Average Equity 14.9% 10.8% 5.1% Diluted Average Shares Outstanding (Millions) 141.3 140.3 138.0 Number of Record Shareholders 7,492 7,947 8,503 Government Communications RF Communications Broadcast Communications Microwave Communications Company Overview Harris Corporation (NYSE:HRS) is an international communications and information technology company serving government and commercial markets in more than 150 countries. With headquarters in Melbourne, Florida, the company has annual sales of $3 billion and employs 12,600 men and women – including 5,500 engineers and scientists – dedicated to the development of best-in-class assured communications products, systems, software and services. The company’s four business segments include: Government Communications Systems, which provides communications and information processing technology and systems for the U.S. Department of Defense, federal government agencies, and the intelligence community; RF Communications, which provides secure tactical radios and systems to U.S. and international defense and peacekeeping forces; Broadcast Communications, which provides TV and radio transmission equipment, enterprise software solutions, and networking solutions for existing and emerging broadcast markets and creators of rich media content worldwide; and Microwave Communications, which provides microwave radio transmission solutions for global cellular telecom service providers and private networks, and network management systems. Contents 1 Letter to Shareholders / 6 Harris Technology / 8 Government Communications / 10 RF Communications / 12 Broadcast Communications 14 Microwave Communications / 16 Directors, Officers and Senior Management / 17 Form 10-K / Inside Back Cover Shareholder Information 2
LETTER TO SHAREHOLDERS > Howard L. Lance Chairman, President and Chief Executive Officer Fiscal year 2005 was a record by all key financial measures. Growing market opportunities, new products and consistent execution by the Harris team delivered strong financial results. Total revenue increased by 19 percent, reaching $3 billion. Organic revenue growth for the company was strong, and all four business segments posted significant increases in operating income. Net income rose 52 percent to $202 million, earnings increased to $1.46 per diluted share, and cash flow from operations increased to $301 million. 1
Page 1: OUTSTANDING PEOPLE. EXCEPTIONAL RES
Page 5 and 6: value of about $5 billion. Our trac
Page 7 and 8: software that allow our customers t
Page 9 and 10: Robert M. Montgomery 2002 Fellow Wi
Page 11 and 12: Advanced Avionics: Harris is a lead
Page 13 and 14: Harris Falcon® III Multiband: The
Page 15 and 16: Dramatic breakthroughs in digital c
Page 17 and 18: MICROWAVE COMMUNICATIONS Harris’
Page 19 and 20: SHAREHOLDER INFORMATION Corporate H

2005 (pdf) - Harris

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