What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to announce Harris Corporation's financial results for its fourth quarter and full fiscal year 2005, and to provide updated earnings guidance for the upcoming fiscal year 2006. It also includes a press release with these details.

What are non-GAAP financial measures and why is Harris Corporation using them?

Non-GAAP financial measures are financial metrics that exclude or include amounts that differ from GAAP-based measures. Harris Corporation is using them to provide investors with a view of its operating results that excludes certain costs related to cost reduction actions (like facility shutdowns and severance costs) in its Broadcast Communications segment. Management believes these measures help investors better understand underlying business trends and performance, separate from specific, potentially one-time charges.

Where can investors find more detailed financial information?

The full press release, containing the financial results, revised guidance, and the reconciliation of non-GAAP to GAAP measures, is furnished as Exhibit 99.1 to this 8-K filing and is incorporated by reference. Investors should refer to this exhibit for a comprehensive understanding of the company's financial condition and performance.

Are the non-GAAP measures presented as a substitute for GAAP reporting?

No, Harris Corporation explicitly states that non-GAAP financial measures should be viewed in addition to, and not in lieu of, GAAP measures. They are intended to supplement the GAAP financial information, not replace it, to provide additional insights for investors.

LHX 8-K: Earnings & Results

Summary

L3Harris Technologies (then Harris Corporation) filed an 8-K on July 27, 2005, primarily to disclose its fourth quarter and full fiscal year 2005 results, along with updated earnings guidance for fiscal year 2006. The report highlights the company's financial performance and provides forward-looking statements regarding its expected earnings. Investors should note that the company discussed non-GAAP financial measures in its press release, which is attached as an exhibit. These non-GAAP measures exclude certain costs, such as facility shutdown and relocation expenses, and severance costs related to cost reduction actions in the Broadcast Communications segment, to provide a clearer view of operational trends separate from specific charges. The company emphasizes that these non-GAAP measures are intended to supplement, not replace, GAAP-based financial reporting. Management believes these measures offer valuable insights into the company's underlying business performance and trends, aiding investor analysis and understanding of operational results independent of discrete, potentially distorting, charges. Investors are encouraged to review the reconciliation provided in the press release for a comprehensive understanding of the adjustments made.

Key Highlights

1Disclosure of Q4 and full fiscal year 2005 financial results for Harris Corporation.
2Issuance of revised earnings guidance for fiscal year 2006.
3Inclusion of a press release (Exhibit 99.1) detailing financial results and guidance.
4Discussion of non-GAAP financial measures, excluding specific cost reduction charges.
5Explanation of the rationale for using non-GAAP measures to provide a clearer view of operational performance.
6Reconciliation of non-GAAP measures to the most directly comparable GAAP measures is provided in the press release.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Jul 27, 2005)

Summary

Key Highlights

Frequently Asked Questions