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Harris' $37M Contract From VBA

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Harris Corp. (HRS) recently announced that it has won a four-year contract worth $37 million from the Veterans Benefits Administration’s (:VBA) Enterprise Data Warehouse.

Per the deal, Harris will offer services to the VBA department which includes design, development, enhancement, integration, implementation, maintenance and infrastructure facilities.

The data from the data warehouse is mainly used by the VBA officials working across 57 regions, to deal with fraudulent activities, execute financial auditing and send intelligence reports to Congress. Thus, the implementation of Harris’s predictive analytics will certainly boost the overall performance of VBA’s Data Warehouse department.

Recently, Harris Corp. reported third-quarter 2013 financial results, where the bottom line was in line with the Zacks Consensus Estimate but the top line missed the same. Total orders generated during the quarter were worth $1.13 billion.

Harris currently carries a Zacks Rank #3 (Hold).

Other Stocks to Consider

Some other stocks in the defense sector and public safety are General Dynamics Corp. (GD), The Boeing Co. (BA) and Motorola Solutions Inc. (MSI). While net earnings of General Dynamics missed the Zacks Consensus Estimate in the first quarter, Motorola Solutions and Boeing handily surpassed the Zacks Consensus Estimate. Boeing, Motorola Solutions and General Dynamics carry a Zacks Rank #3 (Hold).

Harris Corporation, based in Melbourne, FL, remains one of the leaders in the public safety and professional communication market and boasts products ranging from industry leading multi-band, multi-mode radios, public safety-grade broadband voice, video and data solutions.

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