Harris (NYSE: HRS) reported earnings on Jan. 31. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 30 (Q2), Harris missed estimates on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share contracted.

Gross margins expanded, operating margins dropped, and net margins contracted.

Revenue details
Harris recorded revenue of $1.45 billion. The 12 analysts polled by S&P Capital IQ hoped for sales of $1.51 billion. Sales were 0.5% higher than the prior-year quarter's $1.44 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $1.22. The 13 earnings estimates compiled by S&P Capital IQ averaged $1.19 per share on the same basis. GAAP EPS of $1.16 for Q2 were 1.7% lower than the prior-year quarter's $1.18 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 35.4%, 80 basis points better than the prior-year quarter. Operating margin was 15.6%, 160 basis points worse than the prior-year quarter. Net margin was 9.2%, 130 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.53 billion. On the bottom line, the average EPS estimate is $1.34.

Next year's average estimate for revenue is $6.20 billion. The average EPS estimate is $5.07.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 638 members out of 657 rating the stock outperform, and 19 members rating it underperform. Among 202 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 198 give Harris a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Harris is outperform, with an average price target of $47.50.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.