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

The primary purpose of this 8-K filing is to report L3Harris Technologies' financial results for the fourth quarter and second half of 2019, and to provide financial guidance for the upcoming calendar year 2020. It also includes disclosures related to the company's use of non-GAAP financial measures.

What kind of financial guidance is provided for 2020?

The filing indicates that guidance for calendar year 2020 includes expected revenue, earnings per diluted share from continuing operations, and cash flow. Specific figures are detailed in the accompanying press release and financial tables (Exhibit 99.1).

Why does the company emphasize non-GAAP financial measures?

L3Harris management believes that non-GAAP financial measures provide additional useful information to investors by excluding certain costs, charges, expenses, or losses that may disproportionately impact results in a given period. This allows for a better understanding of underlying business trends and performance separate from these specific items.

Are the non-GAAP measures a replacement for GAAP?

No, the company explicitly states that non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial measures presented in accordance with GAAP. They are intended to supplement, not replace, the standard accounting measures.

LHX 8-K: Earnings & Results & Regulation FD

Summary

L3Harris Technologies, Inc. (LHX) filed an 8-K on February 4, 2020, to announce its financial results for the fourth quarter and second half of calendar year 2019, as well as its financial guidance for calendar year 2020. The report also provided a detailed explanation of its use of non-GAAP financial measures, which management believes offer valuable insights into operational trends and performance when considered alongside GAAP figures. These non-GAAP measures are utilized for strategic planning and performance evaluation.

Key Highlights

1Announcement of Q4 and H2 2019 financial results.
2Provision of financial guidance for calendar year 2020, including revenue and EPS projections.
3Detailed explanation and justification for the use of non-GAAP financial measures.
4Emphasis on non-GAAP measures providing a clearer view of operational trends, separate from discrete impacts.
5Reconciliation tables for non-GAAP measures are included in the accompanying Exhibit 99.1.
6Management believes non-GAAP measures enhance investor understanding of business trends and performance.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Results (Feb 4, 2020)

Summary

Key Highlights

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