What are the main topics covered in this 8-K filing?

This 8-K filing primarily covers L3Harris Technologies' (formerly Harris Corporation) financial results for the fourth quarter and full fiscal year 2015, along with its financial guidance for fiscal year 2016. It also details the use of non-GAAP financial measures.

Why is L3Harris presenting non-GAAP financial measures?

L3Harris is presenting non-GAAP financial measures to provide investors with additional insights into its operational performance. These measures exclude items like acquisition-related costs and restructuring charges, which management believes can disproportionately impact reported results in any given period, allowing for a clearer view of underlying business trends.

Should investors rely solely on the non-GAAP financial measures?

No, investors should not rely solely on the non-GAAP financial measures. The company states that these measures should be viewed in addition to, and not in lieu of, financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). The press release includes reconciliations of non-GAAP measures to the most directly comparable GAAP measures.

Where can I find the detailed financial information and reconciliations?

Detailed financial information, including the results of operations and financial condition for Q4 and FY 2015, the fiscal year 2016 guidance, and the reconciliations of non-GAAP to GAAP financial measures, is provided in Exhibit 99.1, which is the press release furnished with this Form 8-K.

LHX 8-K: Earnings & Results & Regulation FD

Summary

L3Harris Technologies, Inc. (formerly Harris Corporation) filed an 8-K on August 7, 2015, to report its financial results for the fourth quarter and full fiscal year 2015. The filing also provided initial guidance for fiscal year 2016, including expected net income per diluted share and revenue ranges. Investors should note that the company is presenting non-GAAP financial measures, such as adjusted income from continuing operations and free cash flow, to offer a clearer view of operational performance by excluding acquisition-related costs, restructuring charges, and capital expenditures. The company emphasizes that these non-GAAP measures are intended to supplement, not replace, GAAP financial information. Management believes these adjusted figures provide valuable insights into business trends and performance, aiding in analysis and planning. The press release, included as Exhibit 99.1, contains detailed financial tables and reconciliations of these non-GAAP measures to their GAAP equivalents.

Key Highlights

1Harris Corporation reported its Q4 and full fiscal year 2015 financial results.
2The company provided preliminary guidance for fiscal year 2016, including expected net income per diluted share and revenue.
3The filing includes a discussion of non-GAAP financial measures, such as adjusted income from continuing operations and free cash flow.
4Non-GAAP measures are used to exclude acquisition-related costs, restructuring charges, and capital expenditures for enhanced performance analysis.
5Management believes non-GAAP measures offer useful insights into business trends and performance alongside GAAP results.
6The press release with detailed financial information and reconciliations is furnished as Exhibit 99.1.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Aug 7, 2015)

Summary

Key Highlights

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