L3Harris CEO William Brown on 2020 Revenue, Workforce Growth Projections

William Brown
William Brown
William Brown
William Brown

William Brown, CEO of L3Harris Technologies and former Wash100 awardee, has said the company is making progress in its technology development and expansion efforts despite experiencing disruptions amid the COVID-19 pandemic, Florida Today reported Friday.

L3Harris expects its 2020 revenue to increase by 3 to 5 percent to $18.3B to $18.6B, according to the report. The new projection is lower than the company’s May 2020 forecast which estimated a 5 to 7 percent increase in revenue.

The company attributes the decline to reduced air traffic activity and impacts to the flight training and commercial aviation markets. The decrease additionally reflects lowered public-safety demands and risks of supply-chain disruptions, the report states.

However, Brown noted that L3Harris expects to expand its workforce by an additional 100 employees in Florida’s Space Coast over the next year.

According to Florida Today, the company has contributed to the rise in local employment to 7.6K following the merger of L3 technologies and Harris which closed in July 2019.

Brown added that L3Harris is “paying a lot of attention to our supply base” following its efforts to accelerate $100M in payments to suppliers. L3Harris has made over $200M in accelerated payments to date, the report noted.

Brown’s comments come after Leidos completed its $1B purchase of L3Harris’ airport security detection and automation business units in May.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Technology

Eric Trexler
Forcepoint’s Eric Trexler: Agencies Should Ensure Supply Chain Security Beyond CMMC Requirements
Northrop Books DARPA Hypersonic Tech Research Contract - top government contractors - best government contracting event
Northrop Books DARPA Hypersonic Tech Research Contract