• 2Q18 revenue up 6% to $1.5 billion; orders up 13%
• 2Q18 EPS from continuing operations down 12% to $1.15 GAAP; up 21% to $1.67 non-GAAP
• 2Q18 results impacted by $52 million one-time, non-cash write-down of deferred tax assets and $26 million lower tax rate benefit from enactment of Tax Cuts and Job Act of 2017
• 1H18 revenue up 3% to $2.9 billion; EPS from continuing operations up 3% to $2.52 GAAP and up 15% to $3.05 non-GAAP
• 1H18 operating cash flow up 26% to $373 million; free cash flow up 34% to $330 million
• Solid operating performance plus tax reform resulting in increased EPS guidance for fiscal 2018

MELBOURNE, Fla. — (BUSINESS WIRE) — January 30, 2018 — Harris Corporation (NYSE: HRS) reported fiscal 2018 second quarter revenue of $1.54 billion, up 6% compared with the prior year. Earnings per diluted share from continuing operations was $1.15 (GAAP) and $1.67 (non-GAAP¹), compared with $1.30 (GAAP) and $1.38 (non-GAAP¹) in the prior year. Operating cash flow was $278 million and free cash flow was $258 million compared with operating cash flow of $252 million and free cash flow of $224 million in the prior year.

"We generated solid results in the second quarter driven by the strongest revenue growth we have achieved in more than seven years, including a 26% increase in tactical radio sales," said William M. Brown, chairman, president and chief executive officer. “In the first half, revenue and orders were up in all segments, and company book-to-bill was a robust 1.3. As a result of our strong performance and improved revenue outlook despite a lengthened continuing resolution, as well as benefits from tax reform, we have increased EPS guidance for the fiscal year."