{"id":56987,"date":"2021-08-03T19:06:44","date_gmt":"2021-08-03T11:06:44","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/l3-harris-government-space-satellite-business-holds-steady-in-q2-2021\/"},"modified":"2021-08-03T19:06:44","modified_gmt":"2021-08-03T11:06:44","slug":"l3-harris-government-space-satellite-business-holds-steady-in-q2-2021","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/l3-harris-government-space-satellite-business-holds-steady-in-q2-2021\/","title":{"rendered":"L3 Harris\u2019 Government Space, Satellite Business Holds Steady in Q2 2021"},"content":{"rendered":"<\/p>\n<p><strong>L3 Harris<\/strong>\u2018 space and satellite communication business divisions reported modest revenue gains in is 2021 second fiscal quarter (Q2 2021).<\/p>\n<p>Its Space and Airborne systems revenue increased 3% over the same period last year due to increased activity with missile defense, responsive space programs, and classified cybersecurity business. The business unit also benefited from a multi-million-dollar initial award it won during the quarter for the design of next-generation weather imagers in support of the <strong>U.S. National Oceanic and Atmospheric Administration<\/strong>\u2018s (NOAA) future Geostationary (GEO) and extended orbits satellite system.<\/p>\n<p>L3 Harris\u2019 Communications division, which also includes its tactical satellite technology portfolio, also benefited from increased government activity, resulting in a 1.3% increase compared to Q2 2020. However, those gains were offset by lower volume on its existing broadband and public safety communications platforms. The company said the COVID-19 pandemic remains the main source of a lag in broadband business.<\/p>\n<p>The company\u2019s Communications book-to-bill ratio stands at 1.28 and 1.10 for the quarter and first half, respectively.<\/p>\n<p>L3 Harris\u2019 company-wide revenues increased 5% over the same period last year. The company reported a net income margin of 8.8% and an adjusted Earnings Before Interest and Taxes (EBIT) margin of 18.6%.<\/p>\n<p>The company expects to pull in between $18.1 billion and $18.5 billion in revenue by the end of the year \u2014 a downward adjustment from its previous guidance of $18.5 billion \u2014 $18.9 billion.<\/p>\n<p>\u201cWe are now at the two-year mark for L3Harris and our second quarter results demonstrate the merger\u2019s value creation and operating momentum. Our accomplishments to-date and a continued focus on execution give us confidence to raise guidance for the year,\u201d said L3 Harris CEO Christopher Kubasik. \u201cAs we look forward, a commitment to our strategic priorities along with our differentiated capabilities position us for further value creation over the long term.\u201d<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>L3 Harris\u2018 space and satellite communication business divisions reported modest revenue gains in is 2021 second fiscal quarter (Q2 2021). Its Space and Airborne systems revenue increased 3% over the same period last year due to increased activity with missile defense, responsive space programs, and classified cybersecurity business. The business unit also benefited from a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49759,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-56987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56987"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=56987"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/49759"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=56987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=56987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=56987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}