MELBOURNE, Florida, May 5, 2009 — Harris Corporation (NYSE:HRS) reported GAAP net income for the third quarter of fiscal 2009 of $114 million, or $.86 per diluted share, compared with GAAP net income of $108 million, or $.78 per diluted share, in the prior-year quarter. Revenue for the third quarter of fiscal 2009 was $1.36 billion, compared with $1.33 billion for the prior-year quarter.

Excluding the results of Harris Stratex Networks, Inc., net income was $136 million, or $1.02 per diluted share, for the third quarter of fiscal 2009, compared with net income of $106 million, or $.78 per diluted share, in the prior-year quarter. Revenue on the same basis increased 5 percent to $1.21 billion in the third quarter, compared with $1.15 billion for the prior-year quarter.

Orders were $1.0 billion for the third quarter, declining 27 percent compared with $1.4 billion in the prior-year quarter, primarily as a result of significantly lower Department of Defense (DoD) orders in the RF Communications segment and the impact of the weak global economy on the Broadcast Communications segment.

Harris announced on March 31, 2009, that its Board of Directors approved the spin-off to its shareholders of all the shares of Harris Stratex Networks owned by Harris, and that the distribution will take place in the form of a taxable pro rata dividend of Harris Stratex Networks shares payable on May 27, 2009. A reconciliation of GAAP to non-GAAP financial measures is provided in Table 5, along with the accompanying notes.

"Our company performed very well in the third quarter with higher revenue and strong earnings," said Howard L. Lance, chairman, president and CEO. "However, order rates declined in the quarter and are expected to remain weak in the near-term, which will have a significant impact on expected results in fiscal 2010. Beyond fiscal 2010, our company is well-positioned to return to growth. We will continue to invest in acquisitions and new products to expand into adjacent markets where our advanced technologies and capabilities are discriminators. For example, feedback from our customers that have begun fielding our new Falcon lll^® manpack radios has been overwhelmingly positive. The Falcon III 117G is JTRS-approved and offers the most advanced capabilities available in the market, including wideband networking. We are confident that the radios will be widely fielded in both the U.S and international markets."

Revenue and Earnings Guidance
Harris now expects non-GAAP earnings from continuing operations in fiscal 2009 to be at the low end of its previous guidance range of $3.93 to $4.03 per diluted share, excluding acquisition-related costs ($3.88 to $3.98 on a GAAP basis), representing a year-over-year increase of approximately 17 percent, compared with non-GAAP earnings from continuing operations in fiscal 2008 of $3.35 per diluted share ($3.33 on a GAAP basis). Revenue from continuing operations for fiscal 2009 is now expected to increase by approximately 7 percent compared with fiscal 2008.

Initial non-GAAP earnings guidance in fiscal 2010 is expected to be in a range of $3.10 to $3.40 per diluted share, a 16 to 21 percent decline compared to the low end of fiscal 2009 guidance. Revenue in fiscal 2010 is expected to be in a range of $4.9 billion to $5.1 billion. Fiscal 2010 earnings per share and revenue guidance include the expected full-year contribution of the Wireless Systems and Crucial Security acquisitions and exclude acquisition-related costs.

A reconciliation of GAAP to non-GAAP financial measures is provided in Table 7, along with the accompanying notes.

RF Communications
Third quarter revenue in the RF Communications segment was $439 million, an increase of 12 percent, compared with $392 million in the prior-year quarter. Operating income in the third quarter was $151 million, and operating margin continued to be strong at 34.5 percent of revenue.

Revenue growth was driven by significantly higher international sales, which represented 43 percent of total revenue in the quarter, compared with 27 percent for all of fiscal 2008. Revenue in the U.S. market remained strong, but declined compared to the prior-year quarter. Significant deliveries in the quarter were made to Norway, Pakistan, the Philippines, Hungary, Belgium, Iraq, Kyrgyzstan, the Czech Republic, Armenia, Canada, Ukraine, and Afghanistan. In the U.S. market, significant deliveries were made to the U.S. Army, Marine Corps, and Air Force.

Year-to-date orders through the third quarter of fiscal 2009 were $807 million, down 37 percent, compared with $1.28 billion for the comparable prior-year period. Full-year fiscal 2009 orders are expected to be $1.2 billion to $1.3 billion, well below expected revenue, resulting in a segment book-to-bill ratio of substantially below 1:1. As a result, segment organic revenue in fiscal 2010 is now expected to be significantly lower than fiscal 2009.

The reduced outlook results from a combination of factors, including the delay of two significant orders. The company had expected a $250 million order from the Iraq Ministry of Defence for HF radios, which is now expected to be received in smaller increments over several years. Also expected was a $500 million ceiling IDIQ (Indefinite Delivery/Indefinite Quantity) contract from the U.S. Army for the purpose of procuring Falcon II^® AN/PRC-117F and the new Falcon III AN/PRC-117G multiband radios. The IDIQ was awarded to Harris in the third quarter, with an initial $148 million order for 117Gs. Subsequently, it was determined by the Army that this IDIQ contract could not be used to procure 117G radios, and the order was cancelled. This decision may result in significant delays in 117G orders.

In addition, pressure on DoD budgets caused by the global economic crisis and deficit spending, as well as the lack of clarity surrounding funding priorities within the new administration, are slowing DoD procurements for many defense products and systems, including tactical radios for modernization programs. For Harris, the slower procurement environment has been compounded by reduced urgency for radio systems to support operational requirements in Iraq, which has been only partially offset by additional requirements for Afghanistan.

In the international market, demand remains robust and should continue to drive significant international revenue growth. Communications modernization and standardization programs by U.S. allies are expected to continue. Harris provides Falcon^® tactical radios to more than 100 countries.

"In spite of the near-term decline, longer-term growth prospects for the business remain very positive in both U.S. and international markets," Lance said. "RF Communications will benefit from positive long-term market trends, a competitive position that is unmatched, and an industry-leading new product portfolio." For example, the Falcon lll manpack radio is the first JTRS-approved tactical radio system that provides wideband mobile ad-hoc networked communications. The radio has been fielded by all services of the U.S. Department of Defense and several international allies. The radio supports secure, high-bandwidth communications on-the-move, delivering an evolving picture of the battlefield in real time.

Harris continued to expand its addressable markets through its international integrated communications systems offering. The company received a $46 million order in the third quarter from the government of the United Arab Emirates for an integrated communications system incorporating Falcon II radios, Falcon III high-capacity data radios (HCDRs), tactical broadband global area network (BGAN) satellite communications terminals, and command and control capabilities. Significant international orders in the quarter were also received from Poland and Hungary.

New orders in the U.S. reflected the progress Harris is making with its customers to field larger quantities of the company's new JTRS-approved Falcon III radios that provide multimission capability and new capabilities such as wideband networking for high-bandwidth communications on-the-move. The U.S. Air Force placed an $18 million order for the new Falcon III 117G wideband networking radio, which includes a Remote Operated Video Enhanced Receiver (ROVER) interoperable mode that provides battlefield airmen the ability to receive live video directly from UAVs. Also in the quarter, over $60 million in orders for Falcon III multiband handheld and vehicular radios were received from multiple DoD customers.

On April 16, Harris announced a definitive agreement to acquire the Tyco Electronics Wireless Systems business (formerly known as M/A-COM), an established provider of mission-critical wireless communications systems for law enforcement, fire and rescue, and public service organizations. Wireless Systems had revenue of $463 million for its fiscal year ending September 26, 2008, and addresses a growing $9 billion global market for public safety communications. The acquisition is expected to close by the end of June 2009. Wireless Systems will operate as the Public Safety business unit under the Harris RF Communications segment.

Government Communications Systems
The Government Communications Systems segment reported fiscal 2009 third quarter revenue of $649 million, a 7 percent increase compared with $608 million in the prior-year quarter. Operating income in the third quarter was $74 million, and operating margin was a strong 11.4 percent. Operating income in the prior-year quarter was $21 million and was impacted by a $47 million charge for commercial satellite reflector programs. Seven of the ten commercial reflectors under contract have now been shipped to customers.

Revenue increased in all four of the segment's businesses: Defense Programs, National Intelligence Programs, Civil Programs and IT Services. Revenue growth was primarily driven by: the FAA Telecommunications Infrastructure (FTI) program, which has expanded to include the FTI Microwave program in Alaska; a number of classified programs; the Global Geospatial Intelligence (GGI) program for the National Geospatial-Intelligence Agency; sales of surveillance equipment from the company's Wireless Products Group (WPG); the U.S. Navy Commercial Broadband Satellite Program; and the Navy/Marine Corps Intranet (NMCI) IT services program.

The ramping of several recent contract awards in the segment's new Healthcare Solutions business also contributed to higher revenue, including a significant multi-million-dollar, ten-year contract with Health First, Inc., a Florida-based healthcare provider. Harris will provide network management and IT services for its enterprise-wide operations. The contract includes software and hardware support, 24/7 network operations center, help desk, training, and network security services. Also, Harris has joined forces with a business unit of Siemens Healthcare to provide solutions critical for Picture Archiving and Communications Systems (PACS) that support business continuity during the recovery from natural and man-made disasters.

Following the close of the quarter, Harris was awarded a 10-year, $600 million contract for the U.S. Army Modernization of Enterprise Terminals (MET) program. The new satellite communications terminals will represent the worldwide backbone for high-priority military communications and missile defense systems and support Internet Protocol (IP) and Dedicated Circuit Connectivity within the Global Information Grid (GIG), providing critical reach-back capability for the warfighter.

On April 16, 2009, Harris announced its acquisition of Crucial Security, Inc., a Washington, D.C.-area provider of mission-enabling engineering solutions that address both offensive and defensive IT security challenges for federal law enforcement and other U.S. government agencies. The acquisition expands Harris capabilities and customer footprint in the cyber security market.

Broadcast Communications
Third quarter revenue in the Broadcast Communications segment was $132 million, declining 17 percent compared with $159 million in the prior-year quarter. Operating income was $2 million in the third quarter compared with $7 million in the prior-year quarter. The global recession and postponement of capital projects further weakened demand. However, the impact of lower revenue on operating performance in the third quarter was mitigated by on-going cost-reduction actions.

Revenue declined in both U.S. and international markets and was lower primarily as a result of declining sales in Infrastructure and Networking Solutions where the impact of the global market softness was most significant. Transmission Systems sales were modestly lower as a result of softness in the global radio market. Media and Workflow sales were flat, with weakness in U.S. and international traffic systems, offset by higher sales of media server products.

At the recent National Association of Broadcasters show in Las Vegas, Harris made several announcements related to important new growth initiatives for the segment. Harris will begin a field trial with McDonald's this month to launch the fast food chain's unique, branded TV channel. The field trial includes 20 restaurants around the country and will feature Harris Digital Signage™ solutions to manage, monitor and play out digital broadcast-quality video content for the McDonald's Channel. The systems will be designed and managed through a collaborative effort between Harris Broadcast Communications and the Harris IT Services business within the Government Communications Systems segment.

In another breakthrough application, Harris has signed with the National Basketball Association Orlando Magic to create a first-of-its-kind advanced media workflow in the team's new arena that will be completed in 2010. The in-arena network will combine IPTV and digital signage and will be built around file-based workflows that merge broadcast technology with IT infrastructure. The systems will be designed and managed by Harris Broadcast Communications and Harris IT Services.

Harris Stratex Networks, Inc.
Harris Stratex Networks, Inc. (NASDAQ:HSTX) revenue for the third quarter of fiscal 2009 was $158 million, a decrease of 11 percent compared with $178 million in the prior-year quarter. The segment reported an operating loss of $34 million in the quarter as a result of impairment charges of $33 million related to the acceleration towards a common IP-based technology platform and a $2 million write-off of in-process research and development related to an acquisition.

Harris will host a conference call today at 4:30 p.m. Eastern Time (ET) to discuss its third quarter fiscal 2009 financial results. The dial-in number for the teleconference is (913) 312-1492 and the access code is 3442695. Please allow at least 10 minutes prior to the scheduled start time to connect to the teleconference. Harris encourages you to listen via webcast, which will be broadcast live at www.harris.com/conference-call. A replay of the teleconference will be available beginning at 8:30 p.m. ET on May 5 and will run until midnight ET on Tuesday, May 12. To access the replay, please call (719) 457-0820, access code 3442695. A recording of the call will also be available on the Harris website beginning at 7:00 p.m. ET on Tuesday, May 5.

About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of $5.4 billion and 16,000 employees — including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications^® products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.

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