Third quarter segment revenue increased 1% as growth from Classified programs, driven by the ramp of small satellites, ground-based processing adjacency and space surveillance programs, was partially offset by expected lower revenue from environmental programs. Operating income increased 8% to $82 million and margins expanded 100 basis points on strong program execution and incremental pension income.

In Classified programs, order momentum remained strong. These orders included follow-on contracts supporting space asset protection and situational awareness capabilities, additional funding for a small satellite award announced in the first quarter of fiscal 2018 and a contract award from the National Geospatial-Intelligence Agency for geospatial imaging services.

Investments in technology have enabled Harris to successfully expand into a full mission provider for small satellites and strengthen its position as partner of choice for payloads in large exquisite satellite systems. The company continued to leverage its investments and was selected for a strategic multi-year contract of approximately $500 million for exquisite space systems.

Cash and Capital Deployment
($ millions)				Third Quarter														Year to Date
				FY 2018					FY 2017				Change					FY 2018				FY 2017				Change
Operating cash flow				$	(143	)			$	194			$	(337	)			$	230			$	489			$	(259	)
Adjusted operating cash flow*				$	157				$	194			$	(37	)			$	530			$	489			$	41
Adjusted free cash flow*				$	121				$	164			$	(43	)			$	451			$	410			$	41

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