Harris Stratex Networks outlines results, outlook
By Katherine Hunt
Last Update: 4:57 PM ET Jan 30, 2007
SAN FRANCISCO (MarketWatch) -- Harris Stratex Networks Inc. (HSTX :
19.99, -0.01, 0.0% ) after Tuesday's closing bell said that Stratex Networks Inc. posted second-quarter earnings of $3.8 million, or 4 cents a share, up from $800,000, or a penny a share, during the year-ago period. Stratex reported revenue of $70.7 million vs. $55.5 million. The merger between Stratex and the microwave communications division of Harris Corp. (HCR : 53.21, +0.16, +0.3% ) closed on Jan. 26. Harris Stratex also provided results for its microwave communication division, or MCD. MCD posted quarterly net earnings of $5.8 million. A year ago, the division reported a net loss of $37.4 million. MCD's revenue was $101.2 million compared with $88.7 million. Harris Stratex said that pro forma revenue for the combined company for the first half of fiscal 2007 was $332.8 million. Pro forma earnings for the period were $29.9 million vs. $13.4 million. For the second half of fiscal 2007, Harris Stratex said it expects pro forma earnings of $25 million to $28 million, or 43 cents to 47 cents a share, on revenue of $340 million to $350 million. |
