L3harris Technologies, Inc. · NYSE:LHX
L3harris Technologies — Harris — Q1 FY2017 Earnings Presentation
11 slides from L3harris Technologies's earnings presentation, October 2016
Slide 1: Fiscal 2017 First Quarter Earnings Call Presentation
Place image here (10” x 3.5”) FISCAL 2017 FIRST QUARTER EARNINGS CALL PRESENTATION HARRIS.COM | #HARRISCORP
Slide 2: Forward-looking statements
Forward-looking statements Statements in this presentation that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor pro
Slide 3: 1Q17 summary
1Q17 summary ($million, except per share amounts) • Continued progress on key priorities EPS Organic revenue* − Strategic initiative to optimize portfolio: GAAP 1.18 1.27 agreement to sell CapRock for $425M 1,792 1,754 1.39 Non-GAAP 1.31 − Shareholder friendly capital allocation: $100M repurchases,
Slide 4: Communication Systems
Communication Systems ($million) Revenue • Segment revenue down 5%; B:B >1; operating income driven by lower volume and mix 454 431 Public 92 • Tactical Comms(1) revenue down 6%, Safety 91 primarily lower SINCGARS; B:B >1 Tactical − Legacy tactical: revenue down 1%; B:B of 1.22; Comms(1) 362 340 bac
Slide 5: Space and Intelligence Systems
Space and Intelligence Systems ($million) Revenue • Segment revenue up 4%; B:B >1; operating income driven by continued 453 435 strong program performance and higher pension income • Higher revenue from intel customers and RBI program for sensors monitoring climate change on 1Q16 1Q17 NASA’s JPSS Op
Slide 6: Electronic Systems
Electronic Systems ($million) Organic revenue* • Segment organic revenue* up 2%; B:B >1 with 3rd consecutive quarter of 355 361 strong bookings for electronic warfare • Higher revenue from Middle East integrated battle management system and electronic warfare partially offset by lower wireless produ
Slide 7: Critical Networks
Critical Networks ($million) Revenue • Segment revenue down 7%; B:B >1 566 527 • Higher FAA NextGen more than offset by lower IT services and CapRock energy • Extended into a new market, leveraging FAA successes for designing and maintaining highly-secure 1Q16 1Q17 communication networks − $700M Flo
Slide 8: Fiscal 2017 outlook
Fiscal 2017 outlook ($million, except per share amounts) Guidance Fiscal 16 Fiscal 17 $ pre-tax EPS $ pre-tax EPS (1) Revenue $ 7,407 $ 7,110 – 7,330 (2) GAAP EPS $ 2.75 $ 5.53 – 5.73 Non-cash write-down of goodwill and other assets 367 Acquisition-related Net liability reduction for certain post-em
Slide 9: Fiscal 2017 segment outlook
Fiscal 2017 segment outlook ($million) Other information Revenue Segment operating margin FY16 FY17 FY16 FY17 GAAP Non-GAAP GAAP/Non-GAAP Harris Corporation* $ 7,407 * down 1 to 4% Communication Systems $ 1,864 down 7 to 9% 28.4% 29.5% 29.5% – 30.5% Space & Intelligence Systems $ 1,899 up 1 to 3% 15
Slide 10: Supplemental information – legacy Harris tactical
Supplemental information – legacy Harris tactical ($million) Harris legacy tactical history 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 FY13 FY14 FY15 FY16 Orders 288 263 286 402 378 215 251 199 358 1,336 1,129 1,238 1,044 Revenue 276 317 356 366 296 314 302 217 293 1,256 1,307 1,315 1,129 DoD 77 9
Slide 11: Supplemental information – Aerostructures
Supplemental information – Aerostructures ($million) Aerostructures financials 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Orders 20 64 9 3 8 23 17 0 Sales 23 24 19 20 19 18 21 2 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Harris revenue 1,934* 2,139* 1,970* 2,042* 1,811 1,843 1,909 1,904 Aerostructures 23