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

The main purpose of this 8-K filing is to announce preliminary financial results for Harris Corporation's third quarter of fiscal year 2015 and to update the company's financial guidance for the full fiscal year 2015, including expectations for income per diluted share, revenue, and tax rate.

What are non-GAAP financial measures, and why does the company use them?

Non-GAAP financial measures are financial metrics that exclude or include amounts that differ from the most directly comparable measure calculated under Generally Accepted Accounting Principles (GAAP). Harris Corporation uses measures like adjusted income from continuing operations and free cash flow, excluding items such as acquisition-related costs or capital expenditures. Management believes these non-GAAP measures provide investors with a more useful understanding of the company's operating performance and trends, separate from items that may disproportionately impact results in a given period.

How should investors interpret the non-GAAP financial measures presented?

Investors should interpret these non-GAAP financial measures as supplementary information. While they can provide insights into underlying business performance, they should always be considered in conjunction with, and not as a substitute for, the financial measures prepared in accordance with GAAP. The filing emphasizes that GAAP measures remain the primary basis for financial reporting.

What does the revision in guidance mean for investors?

A revision in guidance suggests that the company's outlook for its financial performance has changed from previous expectations. Investors should carefully review the details of the revised guidance for income per diluted share, revenue, and tax rate to understand the specific changes and their potential impact on the company's future profitability and valuation. This often reflects updated market conditions, operational performance, or strategic adjustments.

LHX 8-K: Earnings & Results & Regulation FD

Summary

L3Harris Technologies, Inc. (then Harris Corporation) filed an 8-K on April 21, 2015, to announce preliminary third-quarter fiscal year 2015 results and provide revised financial guidance for the full fiscal year 2015. The filing includes updates on expected income from continuing operations per diluted share, revenue, and tax rate. This type of filing is crucial for investors as it provides timely, albeit preliminary, financial performance information and outlook adjustments that can significantly impact investment decisions and stock valuation. Notably, the company emphasizes the use of non-GAAP financial measures in its press release, such as income from continuing operations and free cash flow, which exclude certain items like acquisition-related costs and capital expenditures. Harris management believes these non-GAAP measures offer valuable insights into operational trends and performance separate from specific period impacts, aiding investors in analyzing the business. However, the filing strongly advises that these non-GAAP figures should be considered alongside, and not as a substitute for, GAAP-based financial measures.

Key Highlights

1Harris Corporation released preliminary results for its third quarter of fiscal year 2015.
2The company provided revised guidance for its full fiscal year 2015, including income from continuing operations per diluted share, revenue, and tax rate.
3The filing highlights the use of non-GAAP financial measures, such as adjusted income from continuing operations and free cash flow, to provide a clearer view of underlying performance.
4Management believes non-GAAP measures offer useful insights for investors to analyze trends and understand performance separate from specific impactful items.
5The press release included reconciliations of non-GAAP measures to their most directly comparable GAAP financial measures.
6The company issued standard forward-looking statements disclaimers, warning investors about risks and uncertainties that could cause actual results to differ from expectations.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Apr 21, 2015)

Summary

Key Highlights

Frequently Asked Questions