L3Harris Technologies, Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - L3Harris Technologies, Inc. (LHX) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $158 million, or $0.83 per share. This compares with $416 million, or $2.17 per share, in last year's fourth quarter.

Excluding items, L3Harris Technologies, Inc. reported adjusted earnings of $3.35 per share for the period.

Analysts on average had expected the company to earn $3.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.6% to $5.34 billion from $4.58 billion last year.

L3Harris Technologies, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $158 Mln. vs. $416 Mln. last year. -EPS (Q4): $0.83 vs. $2.17 last year. -Analyst Estimates: $3.31 -Revenue (Q4): $5.34 Bln vs. $4.58 Bln last year.