Blog: L3HARRIS TECHNOLOGIES, INC. /DE/ : Regulation FD Disclosure (form 8-K) – Marketscreener.com

Item 7.01 Regulation FD Disclosure.

The information contained in this Current Report on Form 8-K that is furnished
under this Item 2.02 and 7.01, including the accompanying Exhibits 99.1 and
99.2, is being furnished pursuant to Item 2.02 and 7.01 of Form 8-K and shall
not be deemed to be “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liability of that section. The information contained in this Current Report
on Form 8-K that is furnished under this Item 2.02 and 7.01, including the
accompanying Exhibits 99.1 and 99.2, shall not be incorporated by reference into
any filing under the Securities Act of 1933, as amended, or the Exchange Act,
regardless of any general incorporation language in such a filing, except as
shall be expressly set forth by specific reference.

On July 28, 2022, L3Harris Technologies, Inc. (“L3Harris”) released its
financial results, including of operations and financial condition as of and for
the second quarter of 2022 and fiscal year 2022 guidance for expected revenue,
organic revenue growth, margin, earnings per diluted share from continuing
operations, and cash flow, in an Investor Letter. The full text of the press
release announcing the release of the financial results is furnished herewith as
Exhibit 99.1, and the full text of the Investor Letter and accompanying
financial tables are furnished herewith as Exhibit 99.2, which exhibits are
incorporated herein by reference.

Non-GAAP Financial Measures

This Investor Letter contains non-GAAP financial measures within the meaning of
Regulation G promulgated by the Securities and Exchange Commission (“SEC”),
including non-GAAP earnings per diluted share from continuing operations
(“EPS”), segment operating margin, non-GAAP segment operating margin, non-GAAP
segment operating income and adjusted free cash flow for the second quarters of
2022 and 2021; organic revenue growth for L3Harris and for its Integrated
Mission Systems segment the second quarter of 2022; segment operating income and
margin for the Integrated Mission Systems segment for second quarter of 2022;
debt to net-debt-to-EBITDA (adjusted earnings before interest, taxes,
depreciation and amortization ratio); non-GAAP effective tax rate and expected
organic revenue growth, segment operating margin, EPS, and adjusted free cash
flow, non-GAAP effective tax rate for 2022; in each case, adjusted for certain
costs, charges, expenses, losses or other amounts as set forth in the
reconciliations of non-GAAP financial measures included in the financial
statement tables accompanying this Investor Letter. A “non-GAAP financial
measure” is generally defined as a numerical measure of a company’s historical
or future performance that excludes or includes amounts, or is subject to
adjustments, so as to be different from the most directly comparable measure
calculated and presented in accordance with generally accepted accounting
principles (“GAAP”).

L3Harris management believes that these non-GAAP financial measures, when
considered together with the GAAP financial measures, provide information that
is useful to investors in understanding period-over-period operating results
separate and apart from items that may, or could, have a disproportionately
positive or negative impact on results in any particular period. L3Harris
management also believes that these non-GAAP financial measures enhance the
ability of investors to analyze L3Harris business trends and to understand
L3Harris performance. In addition, L3Harris may utilize non-GAAP financial
measures as guides in forecasting, budgeting and long-term planning processes
and to measure operating performance for some management compensation purposes.
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.

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