-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, M+snWi4gS35CkTstBVLtgrYJ1h6AtBATw5nAmNHj0XEF4ZaPLHgBkwnyRF4PwWfY 45K1sjA9KLqY3X2fsTE5uQ== 0000950152-02-004046.txt : 20020510 0000950152-02-004046.hdr.sgml : 20020510 ACCESSION NUMBER: 0000950152-02-004046 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020510 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20020510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARRIS CORP /DE/ CENTRAL INDEX KEY: 0000202058 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 340276860 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03863 FILM NUMBER: 02642028 BUSINESS ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 BUSINESS PHONE: 3217279100 MAIL ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 FORMER COMPANY: FORMER CONFORMED NAME: HARRIS SEYBOLD CO DATE OF NAME CHANGE: 19600201 8-K 1 l94449ae8-k.txt HARRIS CORPORATION FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 -------------------- Date of Report (Date of earliest event reported): May 10, 2002 ------------ HARRIS CORPORATION ------------------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 1-3863 34-0276860 - ---------------------------- ------------------------ ------------------- (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 1025 West NASA Blvd., Melbourne, FL 32919 - --------------------------------------------------- ------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (321) 727-9100 No Change - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Items 1. - 6. Not Applicable. Item 7. Financial Statements and Exhibits. --------------------------------- (a) Financial Statements. None. (b) Pro Forma Financial Information. None. (c) Exhibits. The following documents are filed as Exhibits to this Report: 99. Summary Business Segment Data on a five-segment basis for fiscal 2000 and 2001 and for each of the fiscal quarters of fiscal 2000, 2001, and the first three quarters of fiscal 2002. Item 8. Not Applicable. Item 9. Regulation FD Disclosure. ------------------------ On May 10, 2002, Harris Corporation ("Harris" or the "Company") filed its Form 10-Q Quarterly Report for the fiscal quarter ended March 29, 2002. The disclosures included in the Form 10-Q for the fiscal period ended March 29, 2002 for Harris' reporting segments is made on a five-segment basis. Harris has previously reported segments on a two-segment basis (Commercial and Government). The five segments are Government Communications, RF Communications, Microwave Communications, Network Support, and Broadcast Communications. Segment results for periods previously reported by Harris on a two-segment basis have been modified to conform to a five-segment basis. Harris is providing herewith summary quarterly information for its five segments for each of the quarterly periods of fiscal 2000 and fiscal 2001, and for the first three quarters of fiscal 2002, and for fiscal 2000 and 2001. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HARRIS CORPORATION By: /s/ Bryan R. Roub ------------------------------------ Name: Bryan R. Roub Title: Senior Vice President & Chief Financial Officer (principal financial officer and duly authorized officer) Date: May 10, 2002 2 EXHIBIT INDEX Exhibit No. Under Reg. S-K, Item 601 Description - ----------------------------- ---------------------------------------- 99. Summary Business Segment Data on a five-segment basis for fiscal 2000 and 2001 and for the fiscal quarters of fiscal 2000, 2001, and the first three quarters of fiscal 2002. 3 EX-99 3 l94449aex99.txt EX-99 EXHIBIT 99 HARRIS CORPORATION FY'02 SUMMARY BUSINESS SEGMENT INFORMATION
(in millions) Quarter Ended ------------------- --- ----------------- -- ------------------ September 28, December 28, March 29, 2001 2001 2002 ------------------- ----------------- ------------------ REVENUE Government Communications $ 216.0 $ 220.5 $ 239.0 RF Communications 53.1 64.1 67.3 Microwave Communications 79.8 72.7 71.8 Network Support 13.4 15.9 13.7 Broadcast Communications 82.3 79.4 93.3 Corporate eliminations (1.2) (1.1) (1.8) ------- ------- -------- $ 443.4 $ 451.5 $ 483.3 ======= ======= ======== INCOME BEFORE INCOME TAXES Government Communications $ 18.7 $ 20.2 $ 21.4 RF Communications 8.4 11.4 13.3 Microwave Communications (5.4) (6.4) 0.2 Network Support (4.3) (2.1) (0.8) Broadcast Communications 7.5 9.7 8.2 Headquarters expense (11.9) (12.6) (12.6) Non-operating income 17.9 7.8 7.6 Net interest (5.0) (3.2) (3.2) ------- ------- -------- $ 25.9 $ 24.8 $ 34.1 ======= ======= ========
For further information and a discussion of segment revenue and income before income taxes for the periods set forth above, refer to Harris' Form 10-Q for the quarterly period ended March 29, 2002, and Forms 10-Q for the quarterly periods ended September 28, 2001, and December 28, 2001. 4 HARRIS CORPORATION FY'01 SUMMARY BUSINESS SEGMENT INFORMATION
Fiscal (in millions) Quarter Ended Year Ended --------------------------------------------------------------------- --------------- September 29, December 29, March 30, June 29, June 29, 2000 2000 2001 2001 2001 ----------------- ---------------- --------------- --------------- --------------- REVENUE Government Communications $ 198.3 $ 210.1 $ 210.6 $ 229.3 $ 848.3 RF Communications 47.0 55.7 57.5 62.9 223.1 Microwave Communications 106.5 113.4 108.9 101.2 430.0 Network Support 37.9 35.1 25.3 23.7 122.0 Broadcast Communications 72.4 74.0 77.8 112.5 336.7 Corporate eliminations (1.7) (1.4) (0.8) (1.1) (5.0) ------- ------- ------- -------- -------- $ 460.4 $ 486.9 $ 479.3 $ 528.5 $1,955.1 ======= ======= ======= ======== ======== INCOME (LOSS) BEFORE INCOME TAXES Government Communications $ 15.5 $ 17.0 $ 18.9 $ 19.5 $ 70.9 RF Communications 5.7 8.5 7.9 10.4 32.5 Microwave Communications (1) (72.8) 3.3 5.9 4.8 (58.8) Network Support 3.3 1.3 (2.5) (2.7) (0.6) Broadcast Communications 6.6 7.7 3.9 16.8 35.0 Headquarters expense (7.8) (9.1) (12.2) (13.8) (42.9) Non-operating income (2) 43.9 7.9 7.6 20.6 80.0 Amortization of goodwill (4.5) (5.7) (6.0) (6.0) (22.2) Net interest (3.8) (6.3) (6.5) (4.9) (21.5) ------- ------- ------- -------- -------- $ (13.9) $ 24.6 $ 17.0 $ 44.7 $ 72.4 ======= ====== ====== ======= =======
(1) Includes a $73.5 million write-off of purchased in-process research and development in the first quarter of fiscal 2001. (2) Fourth quarter of fiscal 2001 includes a $20.1 million write-down of marketable securities and a $33.4 million gain on the sale of Harris' minority interest in its GE-Harris Railway Electronics, LLC joint venture. For further information and a discussion of segment revenue and income before income taxes for the periods set forth above, refer to Harris Form 10-Q for the quarterly period ended March 29, 2002, and Forms 10-Q for the quarterly periods ended September 28, 2001, and December 28, 2001, and Harris' Form 10-K for the fiscal year ended June 29, 2001. 5 HARRIS CORPORATION FY'01 SUMMARY PRO FORMA BUSINESS SEGMENT INFORMATION (1)
Fiscal (in millions) Quarter Ended Year Ended ------------------------------------------------------------------------- --------------- September 29, December 29, March 30, June 29, June 29, 2000 2000 2001 2001 2001 ----------------- --------------- --------------- -------------- --------------- REVENUE Government Communications $ 198.3 $ 210.1 $ 210.6 $ 229.3 $ 848.3 RF Communications 47.0 55.7 57.5 62.9 223.1 Microwave Communications 106.5 113.4 108.9 101.2 430.0 Network Support 37.9 35.1 25.3 23.7 122.0 Broadcast Communications 72.4 74.0 77.8 112.5 336.7 Corporate eliminations (1.7) (1.4) (0.8) (1.1) (5.0) ------- ------- ------- -------- -------- $ 460.4 $ 486.9 $ 479.3 $ 528.5 $1,955.1 ======= ======= ======= ======== ======== INCOME BEFORE INCOME TAXES AND GOODWILL AMORTIZATION Government Communications $ 15.5 $ 17.0 $ 18.9 $ 19.5 $ 70.9 RF Communications 5.7 8.5 7.9 10.4 32.5 Microwave Communications 0.7 3.3 5.9 4.8 14.7 Network Support 3.3 1.3 (2.5) (2.7) (0.6) Broadcast Communications 6.6 7.7 3.9 16.8 35.0 Headquarters expense (7.8) (9.1) (12.2) (13.8) (42.9) Non-operating income 43.9 7.9 7.6 7.3 66.7 Net interest (3.8) (6.3) (6.5) (4.9) (21.5) ------- ------- ------- -------- -------- $ 64.1 $ 30.3 $ 23.0 $ 37.4 $ 154.8 ======= ======= ======= ======== ========
(1) Adjusted to exclude goodwill amortization, a $73.5 million write-off of purchased in-process research and development from the Microwave Communications segment's income before income taxes in the first quarter, a $20.1 million write-down of marketable securities from non-operating income in the fourth quarter and a $33.4 million gain on the sale of Harris' minority in its GE-Harris Railway Electronics, LLC joint venture from non-operating income in the fourth quarter. This pro forma information is presented for convenience and investors should review the other financial information included in this report. 6 HARRIS CORPORATION FY'00 SUMMARY BUSINESS SEGMENT INFORMATION
Fiscal (in millions) Quarter Ended Year Ended ------------------------------------------------------------------------- ------------- October 1, December 30, March 31, June 30, June 30, 1999 1999 2000 2000 2000 ---------------- ---------------- --------------- -------------- ------------- REVENUE Government Communications $ 195.3 $ 194.3 $ 203.1 $ 223.2 $ 815.9 RF Communications 46.3 55.4 56.8 61.9 220.4 Microwave Communications 53.8 75.3 79.0 101.3 309.4 Network Support (1) 46.1 57.6 55.2 52.7 211.6 Broadcast Communications 59.2 61.0 62.5 75.0 257.7 Corporate eliminations (1.9) (2.6) (1.4) (1.7) (7.6) -------- ------- ------- ------- -------- $ 398.8 $ 441.0 $ 455.2 $ 512.4 $1,807.4 ======== ======= ======= ======= ======== INCOME (LOSS) BEFORE INCOME TAXES Government Communications $ 11.8 $ 15.0 $ 15.7 $ 15.6 $ 58.1 RF Communications 4.6 7.2 7.6 7.9 27.3 Microwave Communications (5.2) 1.1 4.2 9.0 9.1 Network Support (1) (0.8) (0.1) (59.3) (6.9) (67.1) Broadcast Communications (2) 4.6 4.2 (6.3) 5.4 7.9 Headquarters expense (6.6) (11.0) (8.3) (10.8) (36.7) Non-operating income (3) 7.4 3.8 28.6 8.4 48.2 Amortization of goodwill (1.1) (1.1) (3.8) (4.5) (10.5) Net interest (0.4) 1.9 (0.5) 1.2 2.2 -------- ------- ------- ------- -------- $ 14.3 $ 21.0 $ (22.1) $ 25.3 $ 38.5 ======== ======= ======= ======= ========
(1) Results include the exit costs and business results for exited product lines. The impact of these product lines on income before income taxes was: first quarter $3.7 million loss; second quarter $7.9 million loss; third quarter $65.4 million loss; and fourth quarter $11.4 million loss. The impact of these product lines on revenue was: first quarter $19.9 million; second quarter $23.6 million; third quarter $18.2 million; and fourth quarter $11.8 million. (2) Results include a $10.7 million third quarter write-off of purchased in-process research and development. (3) Results include a $21.9 million third quarter gain associated with securities sold during Intersil Holding Corporation's initial public offering. For further information and a discussion of segment revenue and income before income taxes for the fiscal year ended June 30, 2000, refer to Harris' Form 10-K for the fiscal year ended June 29, 2001. 7 HARRIS CORPORATION FY'00 SUMMARY PRO FORMA BUSINESS SEGMENT INFORMATION (1)
Fiscal (in millions) Quarter Ended Year Ended ---------------------------------------------------------------------------- -------------- October 30, December 30, March 31, June 30, June 30, 1999 1999 2000 2000 2000 ---------------- ----------------- ---------------- --------------- -------------- REVENUE Government Communications $ 195.3 $ 194.3 $ 203.1 $ 223.2 $ 815.9 RF Communications 46.3 55.4 56.8 61.9 220.4 Microwave Communications 53.8 75.3 79.0 101.3 309.4 Network Support 26.2 34.0 37.0 40.9 138.1 Broadcast Communications 59.2 61.0 62.5 75.0 257.7 Corporate eliminations (1.9) (2.6) (1.4) (1.7) (7.6) -------- ------- ------- ------- -------- $ 378.9 $ 417.4 $ 437.0 $ 500.6 $1,733.9 ======== ======= ======= ======= ======== INCOME BEFORE INCOME TAXES AND GOODWILL AMORTIZATION Government Communications $ 11.8 $ 15.0 $ 15.7 $ 15.6 $ 58.1 RF Communications 4.6 7.2 7.6 7.9 27.3 Microwave Communications (5.2) 1.1 4.2 9.0 9.1 Network Support 2.9 7.8 6.1 4.5 21.3 Broadcast Communications 4.6 4.2 4.4 5.4 18.6 Headquarters expense (6.6) (11.0) (8.3) (10.8) (36.7) Non-operating income 7.4 3.8 6.7 8.4 26.3 Net interest (0.4) 1.9 (0.5) 1.2 2.2 -------- ------- ------- ------- -------- $ 19.1 $ 30.0 $ 35.9 $ 41.2 $ 126.2 ======== ======= ======= ======= ========
(1) Adjusted to exclude goodwill amortization, the results of the exit costs and business results for exited product lines from the Network Support segment's income before income taxes (first quarter $3.7 million loss; second quarter $7.9 million loss; third quarter $65.4 million loss; and fourth quarter $11.4 million loss) and the Network Support segment's revenue (first quarter $19.9; second quarter $23.6 million; third quarter $18.2 million; and fourth quarter $11.8 million), $10.7 million third quarter write-off of purchased in-process research and development from the Broadcast Communications segment's income before income taxes and the $21.9 million third quarter gain associated with securities sold during Intersil Holding Corporation's initial public offering from non-operating income. This pro forma information is presented for convenience and investors should review the other financial information included in this report. 8 -----END PRIVACY-ENHANCED MESSAGE-----