8-KEarnings & ResultsRegulation FDExhibits & Filings

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

Filed July 30, 2013For Securities:LHX

Summary

This Form 8-K from Harris Corporation, filed on July 30, 2013, announces the company's financial results for its fourth quarter and full fiscal year 2013. The filing also provides guidance for fiscal year 2014, including expected income from continuing operations per diluted share and revenue projections. Investors should note that the company is presenting certain non-GAAP financial measures, such as adjusted income from continuing operations and free cash flow, to offer a clearer view of operational performance excluding specific charges related to restructuring and acquisitions. The detailed financial results and fiscal year 2014 guidance are included in an attached press release (Exhibit 99.1). While the company believes these non-GAAP measures provide valuable insights into performance trends and operational efficiency, investors are reminded to consider these alongside the company's GAAP-reported figures for a comprehensive understanding. This report serves as a key disclosure for investors tracking Harris Corporation's financial health and future outlook.

Key Highlights

  • 1Harris Corporation reported its fourth quarter and full fiscal year 2013 financial results.
  • 2The company provided guidance for fiscal year 2014, including projected income from continuing operations per diluted share and revenue.
  • 3The filing utilizes non-GAAP financial measures to present results, excluding restructuring charges and acquisition-related costs for specific periods.
  • 4Non-GAAP measures discussed include adjusted income from continuing operations, segment operating income/margin, and free cash flow.
  • 5A press release (Exhibit 99.1) containing the detailed financial information and guidance is furnished with this report.
  • 6The company emphasizes that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP measures.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Harris Corporation's financial results for the fourth quarter and full fiscal year 2013, and to provide forward-looking guidance for fiscal year 2014, including revenue and earnings per share expectations. It also includes a press release with detailed financial information.

The key non-GAAP financial measures include income from continuing operations and income from continuing operations per diluted share, adjusted for restructuring and other actions in fiscal 2013 and acquisition-related costs from prior periods. Segment operating income and margin, as well as free cash flow, are also presented on a non-GAAP basis.

Harris Corporation uses non-GAAP financial measures to provide investors with a more insightful view of its operating results, separate from specific charges that may have a disproportionate impact on any given period. Management believes these measures enhance investors' ability to analyze business trends and performance.

The detailed financial results and fiscal year 2014 guidance are provided in the press release furnished as Exhibit 99.1 to this Form 8-K filing.