8-KEarnings & ResultsRegulation FDExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Oct 29, 2013)

Filed October 29, 2013For Securities:LHX

Summary

L3Harris Technologies, Inc. (formerly Harris Corporation) filed a Form 8-K on October 29, 2013, to report on its first-quarter fiscal year 2014 financial results. The filing reiterates the company's previously issued guidance for both total revenue and income from continuing operations per diluted share for the full fiscal year 2014. This suggests that the company's performance in the first quarter was in line with expectations, and management remains confident in achieving its annual financial targets. The report also highlights the company's use of non-GAAP financial measures, specifically free cash flow, to provide investors with a clearer understanding of operating performance. Management believes these measures, when viewed alongside GAAP figures, offer valuable insights into underlying business trends and operational efficiency, aiding in the analysis of trends and performance.

Key Highlights

  • 1Harris Corporation reported its first-quarter fiscal year 2014 financial results.
  • 2The company reiterated its full fiscal year 2014 guidance for revenue.
  • 3The company also reiterated its full fiscal year 2014 guidance for income from continuing operations per diluted share.
  • 4The press release discussed non-GAAP financial measures, including free cash flow.
  • 5Management uses non-GAAP measures to provide a clearer view of operating performance and trends.
  • 6The information is furnished under Items 2.02 and 7.01 of Form 8-K and is not deemed "filed" under Section 18 of the Exchange Act.
  • 7Exhibit 99.1, the press release detailing these results and guidance, is incorporated by reference.

Frequently Asked Questions

This 8-K filing's primary purpose is to announce L3Harris Technologies' (Harris Corporation) financial results for its first quarter of fiscal year 2014 and to reiterate its financial guidance for the full fiscal year 2014. It also discusses the use of non-GAAP financial measures.

No, the company reiterated its previous guidance ranges for both expected income from continuing operations per diluted share and expected revenue for the full fiscal year 2014, indicating no change to its financial outlook.

The filing specifically mentions "free cash flow" for the first quarter of fiscal 2014 and fiscal 2013 as a non-GAAP financial measure. The company explains that these measures exclude cash flow for capital expenditures and are provided to enhance investor understanding of operating performance and trends.

Investors should view the information as an update on the company's quarterly performance and a reaffirmation of its annual financial targets. The discussion of non-GAAP measures suggests management's effort to provide additional context on operational performance beyond standard GAAP reporting. It's important to review these non-GAAP measures alongside the official GAAP financial statements.