Harris Corporation Awarded $70 Million IDIQ Contracts by the US Navy

MELBOURNE, Fla.
August 19, 2015

Highlights:

  • Supports U.S. Navy's littoral, expeditionary and maritime mine defense capabilities
  • Allows company to compete for delivery orders for fleet readiness
  • Extends Harris' 50-year legacy supporting sophisticated mine countermeasures

MELBOURNE, Fla., Aug. 19, 2015 — Harris Corporation (NYSE:HRS) has been awarded two five-year multi-award IDIQ contracts with a combined ceiling value of $70 million to support the U.S. Naval Surface Warfare Center's littoral, expeditionary and maritime mine defense programs. The contracts were awarded during the fourth quarter of Harris' fiscal 2015.

Harris will compete for delivery orders to provide hardware, materials and supplies that support critical fleet readiness and the expansion of science and technology programs advancing the state of maritime mine defense capabilities.

"The contracts extend Harris' 50-year legacy of supporting the Navy's advanced mine countermeasure efforts," said Jim Brunelle, director, Harris Undersea Systems business. "They enable us to support the Navy's evolving global challenges in the most focused, efficient way possible."

Harris has extensive experience in magnetic and acoustic mine countermeasure technology including airborne, surface, subsurface and unmanned applications. Harris technology has been involved in every U.S. Navy mine clearance operation since 1974.

About Harris Corporation
Harris provides advanced, technology-based solutions that solve government and commercial customers' mission-critical challenges. The company has approximately $8 billion in annual revenue and about 23,000 employees — including 9,000 engineers and scientists — supporting customers in more than 125 countries. Learn more at harris.com.

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Contact Information:

Carolyn Camp
Harris Electronic Systems
carolyn.camp@harris.com
973-284-5400

Jim Burke
Harris Corporation
jim.burke@harris.com
321-727-9131

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Forward-Looking Statements
This press release contains 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. 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. Statements about the expected value of the program to Harris are forward-looking and involve risks and uncertainties. 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.