Summary
L3Harris Technologies, Inc. (formerly Harris Corporation) filed this 8-K on October 29, 2012, to report its financial results for the first quarter of fiscal year 2013. The filing primarily consists of a press release announcing these results and reiterating previous financial guidance for the full fiscal year 2013. Investors can find detailed operational and financial condition information within the accompanying press release and its attached financial tables. Notably, the company discussed its performance using both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The non-GAAP figures exclude specific costs and expenses related to recent significant acquisitions, including CapRock Holdings, Inc., Schlumberger's Global Connectivity Services business, and Carefx Corporation. Management believes these non-GAAP measures offer valuable insights into underlying business trends and performance, separate from the impacts of these integration activities, which can be useful for investors in analyzing trends and understanding the company's performance.
Key Highlights
- 1Harris Corporation reported its first-quarter fiscal year 2013 financial results on October 29, 2012.
- 2The company reiterated its previously issued guidance for expected diluted earnings per share from continuing operations for fiscal year 2013.
- 3Harris also reiterated its previous revenue guidance range for the full fiscal year 2013.
- 4The filing utilizes both GAAP and non-GAAP financial measures to present results.
- 5Non-GAAP financial measures exclude costs associated with the acquisitions of CapRock Holdings, Schlumberger GCS, and Carefx.
- 6Management asserts that non-GAAP measures provide investors with enhanced ability to analyze trends and understand performance separate from acquisition-related impacts.
- 7The full press release and financial tables are furnished as Exhibit 99.1 to this 8-K filing.