HARRIS CORPORATION (NYSE:HRS) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
is furnished under this Item 7.01, including the accompanying
Exhibit 99.1, is being furnished to Item 7.01 of Form 8-K and
shall not be deemed to be filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
or otherwise subject to the liability of that section. The
information contained in this Current Report on Form 8-K that is
furnished under this Item 7.01, including the accompanying
Exhibit 99.1, shall not be incorporated by reference into any
filing under the Securities Act of 1933, as amended, or the
Exchange Act, whether made before or after the date hereof,
except as shall be expressly set forth by specific reference in
such a filing.
issued a press release announcing that it signed a definitive
agreement to sell its government IT services business to an
affiliate of Veritas Capital for $690 million in cash. The
transaction is subject to regulatory review and other customary
closing conditions and is expected to close before the end of
Harris’ fiscal 2017. Harris intends to use the proceeds from the
transaction to support its capital allocation strategy, including
pension pre-funding and share repurchases. Harris expects the
benefit from the use of cash proceeds and restructuring actions
related to its pending divestiture of its government IT services
business and its recently completed divestiture of its Harris
CapRock Communications commercial business to result in net
dilution for its fiscal 2018 in a range of $0.10 to $0.15 per
diluted share. The full text of the press release is furnished
herewith as Exhibit 99.1 and is incorporated herein by reference.
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99.1
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Press Release, issued by Harris Corporation on January
27, 2017 (furnished to item 7.01). |
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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HARRIS CORPORATION
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By:
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/s/ Rahul Ghai
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Name:
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Rahul Ghai
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Date: January 27, 2017
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Title:
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Senior Vice President and Chief Financial Officer
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Exhibit No.
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Under Regulation S-K,
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Item 601
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Description
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99.1
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Press Release, issued by Harris Corporation on January
27, 2017 (furnished |
About HARRIS CORPORATION (NYSE:HRS)
Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services. HARRIS CORPORATION (NYSE:HRS) Recent Trading Information
HARRIS CORPORATION (NYSE:HRS) closed its last trading session up +2.07 at 103.31 with 377,715 shares trading hands.