Summary
L3Harris Technologies (LHX), formerly Harris Corporation, filed an 8-K on October 25, 2006, to report its first-quarter fiscal year 2007 results and provide revised fiscal 2007 earnings guidance. The filing indicates that the company is presenting non-GAAP financial measures alongside GAAP figures to offer investors a clearer view of operational trends, excluding specific one-time or integration-related items. Key items impacting the non-GAAP reporting include charges related to an investment in Terion, Inc. and anticipated integration costs and gains from the planned combination of its Microwave Communications Division (MCD) with Stratex Networks, Inc. Management believes these non-GAAP adjustments help investors better understand the underlying business performance, separate from these specific events. Investors are encouraged to review both GAAP and non-GAAP figures for a comprehensive understanding.
Key Highlights
- 1Harris Corporation announced its Q1 FY2007 results and revised FY2007 earnings guidance.
- 2The company is presenting non-GAAP financial measures, excluding specific items, to provide a clearer view of operational performance.
- 3Non-GAAP adjustments include charges related to an investment in Terion, Inc.
- 4Integration costs and expected gains from the planned combination of Microwave Communications Division (MCD) and Stratex Networks, Inc. are also excluded from non-GAAP measures.
- 5Management believes non-GAAP measures enhance investor ability to analyze business trends and performance.
- 6The press release and related financial tables are furnished as Exhibit 99.1.
- 7The information is furnished, not filed, and not subject to Section 18 of the Exchange Act liability.