Harris Corporation Increases Fiscal Year 2006 Earnings Per Share Guidance; Orders Accelerate in RF Tactical Radio Business

Harris Corporation Increases Fiscal Year 2006 Earnings Per Share
Guidance; Orders Accelerate in RF Tactical Radio Business 


MELBOURNE, Fla., June 9  /PRNewswire-FirstCall/ -- Harris Corporation
(NYSE:HRS) has raised its fiscal year 2006 earnings per share guidance based on
higher than expected orders for its industry-leading Falcon(R) II tactical
radios used by the U.S. armed forces and by allied military and peace-keeping
forces in international markets.  The company's fiscal year 2006 begins July 2,
2005.

The company now expects fiscal year 2006 earnings to be in the range of $1.73
to $1.78 per diluted share.  Revenue growth is expected to exceed 10 percent. 
The company's previous guidance for fiscal 2006 had been $1.63 to $1.68 per
share with revenue growth of 8-10 percent.  The company also reconfirmed
guidance for fiscal year 2005 of $1.45 to $1.50 per diluted share, which
excludes costs of $.05 per diluted share associated with the November 3, 2004,
acquisition of Encoda Systems.  Revised guidance for fiscal year 2006
represents an approximate 20 percent increase in diluted earnings per share,
compared to fiscal year 2005 guidance.

"Orders and backlog in our RF tactical radio business continue to build. We
have improved visibility into our next fiscal year, suggesting revenue growth
will be significantly stronger than previously expected," said Howard L. Lance,
chairman, president and chief executive officer.  "We have increased our
expectations for revenue growth in the RF Communications segment from 10
percent to 20 percent, compared to the prior year.  Harris radios are
supporting the U.S. military's transformation into a more agile and modular
force, and that transformation has accelerated.  The recently approved $82
billion supplemental budget for the Department of Defense is working its way
through the system in support of these transformation initiatives.  In
addition, the company expects international revenue for tactical radios to be
higher than previously anticipated, reflecting strong demand in areas such as
the Middle East, Central Asia, and Africa."

Harris Corporation is an international communications technology company
focused on providing assured communications(TM) products, systems and services
for government and commercial customers.  The company's operating divisions
serve markets for government communications, tactical radio, broadcast, and
microwave systems.  Harris provides systems and service to customers in more
than 150 countries.  Additional information about Harris Corporation is
available at http://www.harris.com/ .

Non-GAAP Financial Measures

This press release contains non-GAAP financial measures within the meaning of
Regulation G promulgated by the SEC, including fiscal 2005 earnings-per- share
guidance adjusted to exclude the impact of an in-process R&D write-off and
one-time integration costs associated with the acquisition of Encoda Systems
Holdings, Inc.  As noted in the release, the company reconfirmed its fiscal
2005 earnings guidance of $1.45 to $1.50 per diluted share, excluding $.05 per
diluted share of costs noted above for the second quarter acquisition of
Encoda.  On a GAAP basis including such costs, the earnings-per-share guidance
for fiscal 2005 is $1.40 to $1.45 per diluted share. Management of Harris
believes that these non-GAAP financial measures provide information that is
useful to investors in understanding period-over-period operating results
separate and apart from items that may, or could, have a disproportionately
positive or negative impact on results in any particular period.  Management
also believes that these non-GAAP financial measures enhance the ability of
investors to analyze Harris business trends and to better understand the
company's performance.  In addition, the company may utilize non-GAAP financial
measures as a guide in its budgeting and long-term planning process and to
measure operating performance for some management compensation purposes.  Any
analysis of non-GAAP financial measures should be used only in conjunction with
results presented in accordance with GAAP.

Forward-Looking Statement

Statements in this press release 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 upon the safe harbor provisions of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934.  Forward-looking statements in this release include but are not limited
to: earnings guidance for fiscal 2005 and fiscal 2006 and statements regarding
expected revenue growth.  The Company cautions investors that any
forward-looking statements are subject to risks and uncertainties that may
cause actual results and future trends to differ materially from those matters
expressed in or implied by such forward-looking statements.  The Company's
consolidated results and the forward-looking statements could be affected by
many factors, including but not limited to: our participation in markets that
are often subject to uncertain economic conditions which makes it difficult to
estimate growth in our markets and, as a result, future income and
expenditures; our dependence on the U.S. government for a significant portion
of our revenues, as the loss of this relationship or a shift in U.S. government
funding could have adverse consequences on our future business; potential
changes in U.S. government or customer priorities due to program reviews or
revisions to strategic objectives, including termination of or potential
failure to fund U.S. government contracts; risks inherent with large long-term
fixed-price contracts, particularly the ability to contain cost overruns; the
performance of critical subcontractors or suppliers; financial and government
and regulatory risks relating to international sales and operations, including
fluctuations in foreign currency exchange rates and the effectiveness of our
currency hedging program; our ability to continue to develop new products that
achieve market acceptance; the consequences of future geo-political events,
which may affect adversely the markets in which we operate, our ability to
insure against risks, our operations or our profitability; strategic
acquisitions and the risks and uncertainties related thereto, including our
ability to manage and integrate acquired businesses; potential claims that we
are infringing the intellectual property rights of third parties; the
successful resolution of patent infringement claims and the ultimate outcome of
other contingencies, litigation and legal matters; customer credit risk; the
fair values of our portfolio of passive investments, which values are subject
to significant price volatility or erosion; risks inherent in developing new
technologies; the potential impact of hurricanes on our operations in Florida
and the potential impact of earthquakes on our operations in California; the
ability to recruit and retain qualified personnel; and general economic
conditions in the markets in which we operate. Further information relating to
factors that may impact the Company's results and forward-looking statements
are disclosed in the Company's filings with the SEC. Harris disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise.

For additional information, contact Harris Corporation at  . 

DATASOURCE: Harris Corporation



CONTACT:  Media, Tom Hausman, [phone], or ,

or Investor relations, Pamela Padgett, [phone], or

, both of Harris Corporation



Web site:  http://www.harris.com/ 

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