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L3HARRIS ™ FAST . FORWARD . Q1 CY21 EARNINGS RELEASE Revenue O 0 Investor Relations Contact : Rajeev Lalwani , 321-727-9383 0 Margins and earnings Net income margin of 10.2 % ; adjusted earnings before interest and taxes ( EBIT ) margin³ of 18.9 % O rajeev.lalwani@l3harris.com Media Relations Contact : Jim Burke , 321-727-9131 jim.burke@l3harris.com L3Harris Reports Strong First Quarter 2021 Results $ 4.6 billion , down 1.3 % versus prior year , up 1.8 % on an organic¹ basis Funded book - to - bill² of 1.10 Cash flow and capital deployment Operating cash flow of $ 661 million ; adjusted free cash flow ( FCF ) ³ of $ 630 million Returned $ 909 million to shareholders through $ 700 million in share repurchases and $ 209 million in dividends Raised 2021 non - GAAP EPS guidance to $ 12.70 - $ 13.00 GAAP earnings per share from continuing operations ( EPS ) of $ 2.25 , up 127 % Non - GAAP EPS3 of $ 3.18 , up 14 % MELBOURNE , Fla . , April 30 , 2021 - L3Harris Technologies , Inc. ( NYSE : LHX ) reported first quarter 2021 revenue of $ 4.6 billion , down 1.3 % versus prior year , and up 1.8 % on an organic¹ basis . GAAP net income was $ 466 million , up 140 % versus prior year . Adjusted EBIT3 was $ 862 million , up 6.7 % versus prior year , and adjusted EBIT margin³ expanded 140 basis points ( bps ) to 18.9 % . GAAP EPS was $ 2.25 , up 127 % , and non - GAAP EPS³ was $ 3.18 , up 14 % versus prior year . " Our first quarter results demonstrate continued strong execution by the L3Harris team in spite of the pandemic , which provides us confidence in delivering on our increased guidance for the year , " said William M. Brown , Chair and Chief Executive Officer . " Our ability to perform exceptionally , along with the differentiated capabilities highlighted at our Investor Briefing , position us to continue creating value for all stakeholders over the long term . "