8-KEarnings & ResultsRegulation FDExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Oct 26, 2011)

Filed October 26, 2011For Securities:LHX

Summary

L3Harris Technologies, Inc. (formerly Harris Corporation) filed an 8-K on October 26, 2011, to report on its first quarter fiscal year 2012 financial results and provide guidance. The report highlights the company's financial performance and reiterates its outlook for the full fiscal year 2012, including expected net income per diluted share and revenue. Investors should note that the company utilizes non-GAAP financial measures, which exclude certain acquisition-related costs, to provide a clearer view of ongoing operational performance and trends. These non-GAAP measures, alongside GAAP results, are intended to offer a more comprehensive understanding of the business. The company's primary focus in this filing is on its operating results and financial condition for the first quarter of fiscal 2012. The press release, furnished as an exhibit, details these results and provides management's perspective on the company's performance, particularly in segments like Integrated Network Solutions. The reiteration of fiscal year guidance suggests management's confidence in achieving its projected financial targets, despite the inclusion of certain acquisition-related expenses in their reported figures.

Key Highlights

  • 1Harris Corporation reported its first quarter fiscal year 2012 financial results on October 26, 2011.
  • 2The company reiterated its full fiscal year 2012 guidance for net income per diluted share and revenue.
  • 3The filing includes a press release (Exhibit 99.1) detailing the results of operations and financial condition.
  • 4Harris utilizes non-GAAP financial measures to provide a clearer view of operational performance, excluding acquisition-related costs.
  • 5These non-GAAP measures are presented alongside GAAP results to enhance investor understanding of trends and performance.
  • 6Specific mention is made of operating income for the Integrated Network Solutions segment when discussing performance.
  • 7The report indicates a focus on growth within segments, adjusted for recent acquisitions.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Harris Corporation's financial results for the first quarter of fiscal year 2012 and to reiterate the company's financial guidance for the full fiscal year 2012.

Harris Corporation uses non-GAAP financial measures such as net income, net income per diluted share, and operating income, which exclude certain costs and expenses related to acquisitions (e.g., CapRock, Schlumberger GCS, Core180 Infrastructure, Carefx). Management believes these measures provide useful information to investors by presenting operating results separate from the impact of these acquisition-related items, allowing for a better analysis of trends and performance.

No, the filing explicitly states that non-GAAP financial measures should be viewed in addition to, and not in lieu of, net income, net income per diluted share, and other financial measures calculated in accordance with GAAP. Harris provides a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.

The filing specifically mentions the Integrated Network Solutions segment, discussing its operating income for the first quarter of fiscal 2012 compared to fiscal 2011, adjusted for the impact of recent acquisitions. Revenue growth in this segment is also noted.