Segment orders grew double digits for the fifth consecutive quarter led by strength in EW and Mission Networks. New awards continued to strengthen Harris' strategic position in EW on long-term platforms and included a $400 million, multi-year, sole source IDIQ contract to support international F-16s, with an initial order of $58 million from Turkey. In addition, Harris received a $44 million, follow-on development contract from the U.S. Air Force supporting B-52 countermeasure systems.
Harris also leveraged its highly successful FAA managed services model to capture a 15-year, $141 million systems integration contract to modernize India's air traffic management communications infrastructure, supporting growth in one of the world's largest aviation markets.
Full year segment revenue was up 5% with strong operating margin of 18.6% despite the unfavorable impact of ADS-B in the first half of the year. Orders were up 33% to $3.1 billion, including $1.1 billion on F-35, F/A-18 and F-16 platforms, resulting in a book-to-bill of 1.3.
Space and Intelligence Systems |
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($ millions) | Fourth Quarter | Full Year | |||||||||||||||||||||||||
FY 2018 | FY 2017 | Change | FY 2018 | FY 2017 | Change | ||||||||||||||||||||||
Revenue | $ | 508 | $ | 506 | — | % | $ | 1,921 | $ | 1,902 | 1 | % | |||||||||||||||
Operating income | $ | 86 | $ | 80 | 8 | % | $ | 336 | $ | 311 | 8 | % | |||||||||||||||
Operating margin | 16.9 | % | 15.8 | % | 110bps | 17.5 | % | 16.4 | % | 110bps | |||||||||||||||||