Summary
L3Harris Technologies, Inc. (formerly Harris Corporation) filed this Form 8-K on July 29, 2014, to report its financial results for the fourth quarter and full fiscal year 2014. The filing also provided initial financial guidance for fiscal year 2015, including expected diluted earnings per share and revenue ranges. Investors should note that the company utilized and discussed non-GAAP financial measures, such as adjusted income from continuing operations and free cash flow, alongside GAAP measures. These non-GAAP metrics were presented to offer a clearer view of ongoing operational performance by excluding restructuring charges and capital expenditures, respectively. The company's management believes these non-GAAP measures enhance investors' ability to analyze trends and understand performance over different periods. The press release, furnished as Exhibit 99.1, provides detailed financial information and reconciliations between GAAP and non-GAAP figures. This filing is significant for understanding the company's recent performance and its outlook for the upcoming fiscal year, offering a management perspective on operational efficiency.
Key Highlights
- 1Harris Corporation announced its fourth quarter and full fiscal year 2014 financial results.
- 2The company provided initial guidance for fiscal year 2015, including expected income from continuing operations per diluted share and revenue ranges.
- 3The filing details the use of non-GAAP financial measures, specifically adjusted income from continuing operations and free cash flow.
- 4These non-GAAP measures exclude restructuring charges (for historical periods) and net capital expenditures to provide a clearer operational view.
- 5Harris management believes these non-GAAP measures aid investors in understanding trends and performance.
- 6A press release containing these results and guidance, along with GAAP reconciliations, was furnished as Exhibit 99.1.