10-QPeriod: Q1 FY2010

L3HARRIS TECHNOLOGIES, INC. /DE/ Quarterly Report for Q1 Ended Apr 3, 2009

Filed May 12, 2009For Securities:LHX

Summary

L3 Technologies, Inc. (LHX) filed its 10-Q for the period ending April 3, 2009, providing an unaudited look at its financial performance and operational condition. For investors, the key takeaway is the company's financial standing during a period likely impacted by broader economic conditions. Investors should pay close attention to the condensed consolidated statements of income, balance sheet, and cash flows for the relevant periods to understand revenue trends, profitability, liquidity, and the company's overall financial health. The Management's Discussion and Analysis (MD&A) section is crucial for understanding the drivers behind the reported numbers, including any significant changes in revenue, cost of sales, operating expenses, and the factors influencing cash flows. Investors should also review the risk factors and legal proceedings to gauge potential headwinds and liabilities that could affect future performance. The filing provides a snapshot of LHX's operational and financial landscape during this fiscal quarter.

Financial Highlights

31 data points
Beta

Revenue

$1.21B

32.5% Gross Margin

Net Income

$114.20M

9.5% Net Margin

EPS (Diluted)

$0.86

Cash & Equivalents

$452.00M

Free Cash Flow

$317.70M

Financial Statements
Beta
Revenue$1.21B
Cost of Revenue$813.30M
Gross Profit$391.80M
Operating Expenses$188.40M
Operating Income$135.90M
Interest Expense$12.60M
Net Income$114.20M
EPS (Basic)$0.86
EPS (Diluted)$0.86
Shares Outstanding (Basic)132.70M
Shares Outstanding (Diluted)133.10M

Key Highlights

  • 1The report provides unaudited financial statements for the quarter and three quarters ending April 3, 2009, offering a current view of the company's performance.
  • 2Key financial statements included are the Condensed Consolidated Statement of Income, Balance Sheet, and Cash Flows.
  • 3Management's Discussion and Analysis (MD&A) is a critical section for understanding the performance drivers and financial condition.
  • 4The filing details the company's liquidity and capital resources through the Statement of Cash Flows.
  • 5Risk factors and legal proceedings are disclosed in Part II, highlighting potential challenges and liabilities.
  • 6The report covers the period ending April 3, 2009, allowing for comparison with prior periods, such as March 28, 2008, for the income statement and cash flows.

Frequently Asked Questions

The primary financial performance indicator reported is the Condensed Consolidated Statement of Income, which details the company's revenues, cost of sales, gross profit, operating expenses, and net income for the reported periods.

Investors can assess L3 Technologies' financial health by reviewing the Condensed Consolidated Balance Sheet for its assets, liabilities, and equity, and the Condensed Consolidated Statement of Cash Flows for its operating, investing, and financing activities, as well as its overall liquidity.

The main risks and challenges would be detailed in Item 1A, Risk Factors, and Item 1, Legal Proceedings. Investors should carefully review these sections for information on potential market risks, operational challenges, competitive landscape, and any ongoing litigation that could impact the company.

The unaudited nature means these financial statements have not been subjected to the same level of rigorous audit procedures as annual financial statements. While they provide timely information, investors should consider them as preliminary and subject to potential adjustments in future filings.