Summary
L3Harris Technologies, Inc. (formerly Harris Corporation) filed an 8-K on August 5, 2008, primarily to report its fourth-quarter and full fiscal year 2008 financial results and reconfirm its fiscal year 2009 earnings guidance. The company highlighted its performance, particularly within key segments like Government Communications Systems, Broadcast Communications, and Harris Stratex Networks. Notably, the filing emphasizes the use of non-GAAP financial measures, which exclude costs associated with recent acquisitions (Multimax Incorporated and Zandar Technologies plc) and integration expenses related to the combination of its former Microwave Communications business with Stratex Networks, Inc. Management believes these non-GAAP measures offer investors a clearer view of underlying operational trends and performance, separate from one-time acquisition and integration charges, aiding in the analysis of business trends and long-term planning.
Key Highlights
- 1Harris Corporation announced fourth-quarter and full fiscal year 2008 financial results on August 5, 2008.
- 2The company reconfirmed its previously issued earnings guidance for fiscal year 2009.
- 3Key business segments discussed include Government Communications Systems, Broadcast Communications, and Harris Stratex Networks.
- 4The filing utilizes non-GAAP financial measures to present results, excluding acquisition and integration costs.
- 5Acquisitions of Multimax Incorporated and Zandar Technologies plc, along with the Harris Stratex Networks combination, incurred specific costs that are being excluded from non-GAAP reporting.
- 6Management believes non-GAAP measures provide investors with enhanced insight into operational performance and business trends.
- 7The press release and related financial tables are furnished as Exhibit 99.1 to the 8-K filing.