Now what: Management now sees full-year 2016 revenue of $7.6 billion to $7.68 billion, down from its prior view of $7.67 billion to $7.83 billion. "We've made excellent progress in both achieving anticipated synergy savings and identifying additional opportunities," said Chairman, President, and CEO William M. Brown. "As a result, we now expect to exit fiscal 2017 with annual run-rate savings in a range of $140 to $150 million, significantly higher than our previous expectation of about $120 million." Given Harris' seemingly significant revenue headwinds and still-lofty 20-plus P/E, however, I'd hold out for an even wider margin of safety before buying into that bullishness.
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