Market Overview

Harris Granted $1.7 Billion Foreign Military Sales IDIQ Contract


Harris Corporation (NYSE: HRS) disclosed that it got a five-year $1.7 billion ceiling, single-award follow-on IDIQ contract from the Army Communications-Electronics Command (CECOM) in the United States to supply secure tactical communication solutions.

According to Harris, the contract was granted under the Foreign Military Sales (FMS) program and was received in the fourth quarter of its fiscal year 2016. The company added that the contract enabled it to supply a wide range of secure radio communications, tactical communication networks and embedded high-grade encryption solutions spanning Harris' entire tactical communications offerings.

The company's President, Chris Young, said, "The contract highlights that Harris tactical communication solutions continue to meet the varied needs of our international customers. The agreement will add to an already broad range of Harris communications products and services for international customers under the FMS program."

The stock traded 1.07 percent higher on Thursday.

Posted-In: News Contracts Press Releases


Related Articles (HRS + KRS)

View Comments and Join the Discussion!

Suncor Energy Upgraded By Citi On Free Cash Flow Focus

10 Biggest Mid-Day Gainers For Thursday