What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report Harris Corporation's financial results for its third quarter of fiscal year 2013 and to reiterate its previously issued financial guidance for the full fiscal year 2013. It also includes information on how the company is presenting its performance using non-GAAP financial measures.

What are the key non-GAAP financial measures being used?

The key non-GAAP financial measures mentioned are income from continuing operations and income from continuing operations per diluted share for the third quarter of fiscal 2012, adjusted to exclude certain costs and expenses associated with the acquisitions of CapRock Holdings and Schlumberger GCS. Free cash flow for Q3 FY2013 and Q3 FY2012, excluding capital expenditures, is also presented on a non-GAAP basis. Additionally, the reiterated FY2013 guidance excludes estimated charges related to restructuring and other actions.

Why is the company using non-GAAP financial measures?

Harris Corporation uses these non-GAAP measures because management believes they provide investors with a more useful understanding of period-over-period operating results, separate from items that may disproportionately impact results in a given period, such as acquisition-related costs. They are intended to enhance the ability of investors to analyze business trends and performance.

Should investors rely solely on the non-GAAP financial measures?

No, investors should not rely solely on non-GAAP financial measures. The filing explicitly states that these measures should be viewed in addition to, and not in lieu of, the most directly comparable GAAP financial measures. Investors are encouraged to refer to Harris Corporation's financial statements and accompanying footnotes for a comprehensive presentation of results in accordance with GAAP.

LHX 8-K: Earnings & Results & Regulation FD

Summary

L3Harris Technologies, Inc. (formerly Harris Corporation) filed an 8-K on April 30, 2013, primarily to report its financial results for the third quarter of fiscal year 2013 and reiterate its full-year guidance. The company reported its operational and financial performance, emphasizing results that exclude certain one-time charges related to past acquisitions, specifically CapRock Holdings and Schlumberger GCS. This approach, using non-GAAP financial measures, aims to provide investors with a clearer view of the ongoing operational trends and underlying business performance. Investors should note that the company is using non-GAAP measures, such as adjusted income from continuing operations and adjusted earnings per diluted share, to present its performance. While these measures are intended to offer a more focused view of core operations by excluding acquisition-related costs, investors are advised to consider these alongside the GAAP-reported figures. The reiteration of fiscal 2013 guidance suggests management's confidence in achieving previously stated financial targets for the year.

Key Highlights

1Harris Corporation (now L3Harris Technologies) filed an 8-K on April 30, 2013, to report Q3 FY2013 financial results.
2The company reiterated its previously issued guidance for full-year fiscal 2013 income from continuing operations per diluted share.
3The filing includes the use of non-GAAP financial measures, excluding costs related to the acquisitions of CapRock Holdings and Schlumberger GCS.
4Non-GAAP measures discussed include adjusted income from continuing operations and adjusted diluted earnings per share.
5Free cash flow, excluding capital expenditures, for Q3 FY2013 and Q3 FY2012 is also presented on a non-GAAP basis.
6The company believes these non-GAAP measures provide useful insights into operational trends and performance.
7Exhibit 99.1 contains the full press release and related financial tables, which are furnished and not filed.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Apr 30, 2013)

Summary

Key Highlights

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