What are the key financial announcements in this 8-K filing?

This filing announces Harris Corporation's financial results for the third quarter of fiscal year 2006 and provides earnings guidance for fiscal year 2006 and fiscal year 2007. These details are presented in an accompanying press release, Exhibit 99.1.

Why does the report mention 'non-GAAP financial measures'?

Harris Corporation uses non-GAAP financial measures to provide investors with a clearer view of its operating performance by excluding certain items that may disproportionately impact results in a specific period. These include costs associated with cost-reduction actions, acquisitions (like Leitch Technology Corporation), discontinued products, and arbitration decisions.

How should investors interpret the non-GAAP financial information?

Investors are encouraged to consider the non-GAAP financial measures in conjunction with, not as a substitute for, the company's GAAP-based financial statements. Management believes this approach enhances the ability to analyze business trends and understand performance separate from specific charges or gains.

What specific items are excluded in the non-GAAP calculations?

The non-GAAP measures exclude costs related to facility shutdowns, severance, acquisition expenses for Leitch Technology Corporation, charges from discontinuing legacy international microwave products, and charges from an arbitration decision.

LHX 8-K: Earnings & Results

Summary

This 8-K filing from Harris Corporation, dated May 1, 2006, primarily announces the company's financial results for the third quarter of fiscal year 2006 and provides earnings guidance for the full fiscal year 2006 and fiscal year 2007. The report emphasizes the use of non-GAAP financial measures to present a clearer view of operational performance, excluding certain one-time charges such as facility shutdown costs, acquisition-related expenses for Leitch Technology Corporation, and charges from discontinued products or arbitration decisions. Investors are advised to consider these non-GAAP figures alongside GAAP-compliant financial statements to gain a comprehensive understanding of the company's performance and trends. Key financial details and forward-looking statements are contained within an accompanying press release (Exhibit 99.1), which is incorporated by reference. The company's management believes these non-GAAP measures offer valuable insights into underlying business trends and operational performance, aiding investors in their analysis. The filing does not report any significant new material events beyond the financial results and forward-looking guidance.

Key Highlights

1Harris Corporation announced its third-quarter fiscal year 2006 financial results on May 1, 2006.
2The company provided earnings guidance for both fiscal year 2006 and fiscal year 2007.
3The filing includes discussion of financial results using non-GAAP measures, adjusted for specific charges.
4These non-GAAP adjustments exclude costs related to facility shutdowns, severance, acquisition of Leitch Technology Corporation, discontinued product lines, and arbitration decisions.
5Management asserts that non-GAAP measures, when viewed with GAAP results, offer enhanced insights into business trends and performance.
6The full press release containing these financial details and guidance is attached as Exhibit 99.1.
7The report serves to inform investors of the company's financial condition and operational outlook.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (May 1, 2006)

Summary

Key Highlights

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