Order momentum continued in Electronic Warfare and Avionics on long-term platforms – F-35, F/A-18 and F-16. The company leveraged legacy Harris EW capabilities and legacy L3's proven signal receiver capabilities into a combined solution and was down selected for the initial phase of the U.S. Air Force F-16 electronic warfare modernization program supporting a fleet-wide, 15-year upgrade cycle, a potential revenue synergy. The company also received a $33 million order to upgrade electronic countermeasure capabilities on U.S. Navy F/A-18 aircraft and $191 million for avionics components supporting the F-35 platform.
Investments in innovation continued to drive additional funding and strategic wins in the Space business with a multi-million dollar award for L3Harris' newly designed next-generation space antenna, building on the company's 40-plus-year unfurlable antenna reflector legacy. In addition, the company received $76 million in funding support for the ground-based adjacencies franchise to provide end-to-end mission solutions for new and existing classified customers.
Year-to-date segment revenue increased 18% with a funded book-to-bill of 1.10. Operating income increased 26% and operating margin expanded 120 bps to 18.6%.
Communication Systems
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($ millions) |
Third Quarter |
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Year-to-Date |
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CY 2019 |
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CY 2018 |
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Change |
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CY 2019 |
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CY 2018 |
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Change |
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Revenue |
$ |
1,032 |
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|
$ |
933 |
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|
11 |
% |
|
$ |
3,158 |
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$ |
2,837 |
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11 |
% |
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Operating income |
$ |
234 |
|
|
$ |
199 |
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|
18 |
% |
|
$ |
693 |
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$ |
593 |
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17 |
% |
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Operating margin |
22.7 |
% |
|
21.3 |
% |
|
140bps |
|
21.9 |
% |
|
20.9 |
% |
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100bps |
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