8-KEarnings & ResultsRegulation FDExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Nov 1, 2007)

Filed November 1, 2007For Securities:LHX

Summary

This Form 8-K filing by Harris Corporation (now L3Harris Technologies, Inc. /DE/) on November 1, 2007, primarily serves to disclose the company's financial results for its first quarter of fiscal year 2008 and to provide updated earnings guidance for the full fiscal year 2008. The report references a press release (Exhibit 99.1) which contains detailed operational and financial information, including the impact of recent acquisitions and business combinations. Investors should note that the company is presenting both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. The non-GAAP measures are adjusted to exclude certain costs and expenses related to the acquisition of Multimax Incorporated and the combination of its Microwave Communications business with Stratex Networks, Inc. Harris management believes these non-GAAP figures offer valuable insights into ongoing operational performance, aiding investors in analyzing business trends and understanding financial performance apart from the one-time impacts of these significant corporate events.

Key Highlights

  • 1Harris Corporation filed an 8-K on November 1, 2007, reporting on its first quarter of fiscal year 2008 financial results.
  • 2The company issued updated earnings guidance for the full fiscal year 2008.
  • 3The filing includes a press release (Exhibit 99.1) containing the detailed financial information.
  • 4Harris is presenting both GAAP and non-GAAP financial measures.
  • 5Non-GAAP measures exclude costs associated with the acquisition of Multimax Incorporated.
  • 6Non-GAAP measures also exclude costs related to the combination of Harris's Microwave Communications business with Stratex Networks, Inc.
  • 7Management believes non-GAAP measures provide useful insights into operational trends, separate from acquisition-related impacts.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose Harris Corporation's financial results for the first quarter of fiscal year 2008 and to provide updated earnings guidance for the entire fiscal year 2008. It references an accompanying press release for detailed information.

Non-GAAP financial measures are financial metrics that exclude or include amounts that differ from the most directly comparable measure calculated under GAAP. Harris is using them to present a clearer view of its operational performance by excluding specific costs related to the Multimax acquisition and the Harris Stratex Networks combination. Management believes these measures help investors understand underlying business trends without the impact of these significant, non-recurring events.

The non-GAAP financial measures presented exclude certain costs and expenses associated with the acquisition of Multimax Incorporated and the combination of Harris's former Microwave Communications business with Stratex Networks, Inc.

The detailed financial information, including the press release, is provided as Exhibit 99.1 to this Form 8-K filing and is incorporated by reference.