01—Abstract
Summary
Summary of the 10-Q filed October 28, 2010. Cited figures are marked; the original filing is the authoritative source.
L3Harris Technologies (LHX) reported its financial results for the quarter ended October 1, 2010.
The filing provides unaudited condensed consolidated financial statements, including income, balance sheet, and cash flow statements, along with management's discussion and analysis of financial condition and results of operations. Investors should pay close attention to the detailed breakdown of revenues, costs, and expenses to understand the company's performance and operational efficiency during the period. The balance sheet will offer insights into the company's asset base, liabilities, and overall financial health, while the cash flow statement will highlight the sources and uses of cash, crucial for assessing liquidity and investment activities.
02—Key points
Key Highlights
- The report covers the unaudited condensed consolidated financial statements for the quarter ending October 1, 2010, and comparative periods.
- Key financial statements include the Statement of Income, Balance Sheet, and Statement of Cash Flows.
- Management's Discussion and Analysis (MD&A) section provides crucial context on the company's financial performance and outlook.
- The filing includes disclosures on market risk, controls and procedures, and legal proceedings.
- Risk factors are detailed, offering investors insight into potential challenges and uncertainties facing the company.
- Information regarding unregistered sales of equity securities and use of proceeds is also presented.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2011filed October 28, 2010Financial Statements
Q3 FY2011 against Q3 FY2010
| Line item | Q3 FY2011Q3 FY2010 | Change |
|---|---|---|
| Revenue | $1.41B$1.20B | +16.8% |
| Cost of Revenue | $881.10M$812.10M | +8.5% |
| Gross Profit | $524.30M$390.90M | +34.1% |
| Operating Expenses | $255.20M$212.10M | +20.3% |
| Interest Expense | $17.80M$18.20M | −2.2% |
| Net Income | $163.90M$104.50M | +56.8% |
| EPS (Basic) | $1.28$0.79 | +62.0% |
| EPS (Diluted) | $1.27$0.79 | +60.8% |
| Shares Outstanding (Basic) | 126.80M130.80M | −3.1% |
| Shares Outstanding (Diluted) | 127.70M131.40M | −2.8% |
05—Questions
Frequently Asked Questions
What is the primary financial performance indicator for the quarter ending October 1, 2010?
Investors should focus on the Condensed Consolidated Statement of Income, which details revenue, cost of sales, operating expenses, and net income for the quarter, allowing for an assessment of profitability and operational efficiency compared to prior periods.
What does the Condensed Consolidated Balance Sheet reveal about L3Harris's financial health?
The Balance Sheet provides a snapshot of L3Harris's assets, liabilities, and equity at a specific point in time (October 1, 2010, and July 2, 2010). Investors can analyze trends in current assets, long-term assets, debt levels, and shareholder equity to understand the company's liquidity, solvency, and capital structure.
How does the Statement of Cash Flows help investors understand the company's operations?
The Statement of Cash Flows breaks down cash generated and used by operating, investing, and financing activities. This is vital for investors to assess the company's ability to generate cash from its core business, fund capital expenditures, repay debt, and return capital to shareholders.
What are the main risks highlighted in the report that could impact L3Harris's future performance?
Item 1A, Risk Factors, will detail specific risks such as market demand, competitive landscape, regulatory changes, and operational challenges. Investors should carefully review these factors to understand potential headwinds and how management is addressing them.
06—Continue