March 2, 2009 (FinancialWire) -- Harris Corp.'s (NYSE: HRS) board has approved a new $600 million share repurchase program. The new program is in addition to the company's existing share repurchase authorization of $600 million, which currently has a remaining authorization of about $50 million.

Company CEO Howard L. Lance said, "We expect to repurchase shares in balance with market conditions and the company's operational requirements, including continuing to invest in both internal growth initiatives and acquisitions."

Harris said that share repurchases will be funded with available cash.

Melbourne, Florida-based Harris is a communications and information technology company serving government and commercial markets in more than 150 countries. The company posts annual revenue of $5.4 billion and has 16,000 employees.

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