8-KEarnings & ResultsRegulation FDExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Aug 1, 2017)

Filed August 1, 2017For Securities:LHX

Summary

This L3Harris Technologies (LHX) 8-K filing from August 1, 2017, primarily announces the company's financial results for its fourth quarter and full fiscal year 2017, ending on June 30, 2017. The report also provides initial guidance for fiscal year 2018, including expected income per diluted share, revenue, and free cash flow. Investors should note the company's use of non-GAAP financial measures to present a clearer view of operational performance, excluding items like acquisition-related costs and pension contributions.

Key Highlights

  • 1Harris Corporation reported its Q4 FY17 and Full Year FY17 financial results.
  • 2Provided initial guidance for key metrics in Fiscal Year 2018, including EPS, revenue, and free cash flow.
  • 3The company emphasized the use of non-GAAP financial measures, adjusting for acquisition-related items and other factors, to offer a more comparable view of operational performance.
  • 4Free cash flow and income from continuing operations were highlighted as key non-GAAP metrics for performance analysis.
  • 5Organic revenue for FY16 was presented, excluding the Aerostructures business divested in Q4 FY16.
  • 6The report includes a reconciliation of non-GAAP measures to their most directly comparable GAAP measures.
  • 7Information furnished under Item 2.02 and 7.01 is not considered 'filed' for Section 18 liability purposes.

Frequently Asked Questions

The financial results reported in this 8-K cover the fourth quarter and the full fiscal year 2017 for Harris Corporation, which ended on June 30, 2017.

The company provided initial guidance ranges for fiscal year 2018, including expected income from continuing operations per diluted share, expected revenue, and expected free cash flow.

Harris Corporation uses non-GAAP financial measures to provide investors with a clearer understanding of its operating performance by excluding certain items that may disproportionately impact results in a specific period, such as acquisition-related costs and voluntary pension contributions. Management believes these measures enhance the ability to analyze trends and compare performance across periods.

The company's presentation of free cash flow excludes net capital expenditures and, for fiscal year 2017, also excludes a voluntary pension contribution. They also report free cash flow as a percentage of income from continuing operations, excluding acquisition-related items.