Harris Technology posts bumper Q4 to cap off profit turnaround

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Harris Technology posts bumper Q4 to cap off profit turnaround

Harris Technology has completed its profit turnaround with bumper Q4 2020 results, following a tumultuous FY2019.

The company reported a profit of $1.09 million for the year ended 30 June 2020, compared to a loss of $732,000 in 2019.

Harris did not reveal full year revenue, but reported $6.6 million for its fourth quarter, a 295 percent increase from the same period in 2019 of $2.2 million. It also represents a 200 percent increase from the March 2020 quarter, reporting $3.3 million in revenue.

The company cited the performance of its Pro-Hygiene division for the bumper Q4 result, bringing in $1.4 million during the period. Strong demand for some IT products also contributed to the turnaround, with the COVID-19 restrictions fuelling the work-from-home trend.

Harris also announced it had been rated by an independent US market research firm Marketplace Pulse as Amazon Australia’s number one seller. The company said the ranking is based on customer feedback following purchases.

Looking ahead, Harris continues investing in its IT and consumer electronics business while its Pro-Hygiene business continues to see high demand, particularly for face masks in Victoria.

The company is also expanding the Pro-Hygiene division, developing a foot-operated hand sanitiser dispenser and also securing orders for non-touch infrared thermometers.

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