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Harris (HRS) Secures Contracts Worth $26 Million from CBP


Harris Corporation HRS has secured twin contracts worth $26 million from U.S. Customs and Border Protection (“CBP”) to upgrade mission-critical communications to safeguard the nation’s borders.

The company will supply its advanced XL-200P multiband portable radios to the CBP. The contract win is seen as a major step in bringing reliable communications to border patrol customers who operate in extremely challenging coverage areas.

Harris XL-200P Radio

The Harris XL-200P is a full-spectrum, Long Term Evolution-capable radio which delivers leading-edge connectivity across broadband and 700/800 MHz, very high frequency and UHF-H bands, through the integration of high-speed data with robust land mobile radio voice.

The device features an A-B-C-D switch which is easily operated, a powerful 1.5 watt dual-speaker for crystal-clear audio along with front and top LCD displays. It has a battery backup of about 10 hours. It is engineered for solid performance in severe environments and has a customizable user interface.

The radios are packed with features, which are ideal for mission-critical users such as built-in active noise cancellation, Bluetooth and GPS. The portable radio meets more specifications than any other radios, including MIL STD 504.1 for contamination by fluids and MIL-STD 511.4 for flammability.

Apart from these, the XL-200P will offer other benefits to the CBP. These include software defined architecture that enables new capabilities far into the future, multiple bands that solve interoperability issues, and a more simplistic and cost-effective way to deploy and maintain its fleet. Harris’ advanced technology is expected to help CBP’s more than 60,000 employees stay better connected.

Share Price Performance

Going forward, such contract wins are likely to improve the cash flow of the company. Harris' efforts pertaining to business innovation also remain encouraging. Over the past six months, Harris’ shares have outperformed the industry with an average return of 7.9% compared with 5.5% growth for the latter.

Zacks Rank and Stocks to Consider

Harris currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Comtech Telecommunications Corp. CMTL, Motorola Solutions, Inc. MSI and Ubiquiti Networks, Inc. UBNT. While Comtech sports a Zacks Rank #1 (Strong Buy), Motorola and Ubiquiti carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Comtech has a long-term earnings growth expectation of 5%. It beat earnings estimates in each of the trailing four quarters, the average being 123.7%.

Motorola has a long-term earnings growth expectation of 8%. It beat earnings estimates in each of the trailing four quarters, the average being 12.1%.

Ubiquiti has a long-term earnings growth expectation of 18.6%. It exceeded earnings estimates thrice in the trailing four quarters with an average positive surprise of 8.9%.

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