8-KEarnings & ResultsRegulation FDExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (May 5, 2015)

Filed May 5, 2015For Securities:LHX

Summary

This Form 8-K filing from L3Harris Technologies (formerly Harris Corporation) on May 5, 2015, primarily serves to announce the company's financial results for the third quarter of fiscal year 2015. The filing reiterates the company's previously issued guidance for fiscal year 2015, providing investors with an update on operational performance and future expectations. A key aspect of this report is the inclusion of non-GAAP financial measures, such as adjusted income from continuing operations and free cash flow. The company emphasizes that these measures, when viewed alongside GAAP figures, offer a clearer perspective on underlying business trends and performance, excluding one-time items like acquisition-related costs and capital expenditures.

Key Highlights

  • 1Harris Corporation reported its third quarter fiscal year 2015 financial results.
  • 2The company reaffirmed its previously issued guidance for fiscal year 2015 income per diluted share and revenue.
  • 3The filing includes non-GAAP financial measures, such as income from continuing operations excluding acquisition-related costs.
  • 4Free cash flow for Q3 fiscal 2015 and Q3 fiscal 2014 is presented, excluding capital expenditures.
  • 5Guidance for fiscal year 2015 income per diluted share excludes impacts from the pending acquisition of Exelis Inc.
  • 6The information is furnished and not deemed 'filed' for Section 18 purposes.

Frequently Asked Questions

The main purpose of this filing is to announce Harris Corporation's financial results for the third quarter of fiscal year 2015 and to reiterate the company's financial guidance for the full fiscal year 2015. It also includes information on non-GAAP financial measures.

The key non-GAAP financial measures discussed include income from continuing operations and income from continuing operations per diluted share, both excluding acquisition-related costs. Additionally, free cash flow is presented, excluding cash flow for capital expenditures. The fiscal year 2015 guidance also excludes impacts from the pending acquisition of Exelis Inc.

Harris Corporation uses non-GAAP financial measures to provide investors with additional insights into the company's operating performance. Management believes these measures, when considered with GAAP results, help investors understand period-over-period operating results separate from items that may disproportionately impact performance in a given period and to analyze business trends.

The pending acquisition of Exelis Inc. is significant because the company's fiscal year 2015 guidance for expected income from continuing operations per diluted share specifically excludes any impacts related to this pending transaction. This helps investors understand the core business performance separate from the potential effects of the acquisition.