Business Context and Reporting Period
This Form 8-K is a Current Report filed by Harris Stratex Networks, Inc. on May 5, 2009. The filing announces the results of operations and financial condition for the company's third quarter of fiscal year 2009, which ended on April 3, 2009. The report also includes guidance for the fourth quarter of fiscal 2009.
Key Financial Metrics
The filing text serves as a cover document referencing a press release (Exhibit 99.1) for specific numerical data. Consequently, the text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity. The document notes that the referenced press release contains:
- GAAP financial results for the third quarter of fiscal 2009.
- Non-GAAP financial measures, including non-GAAP net income/loss and earnings per share.
- Reconciliations between non-GAAP and GAAP measures.
Non-GAAP adjustments mentioned include exclusions for product transition charges, amortization of purchased technology, R&D expenses, impairment charges, and restructuring costs.
Material Changes
The filing text does not explicitly detail material changes versus the prior comparable period. It states that historical non-GAAP combined information is included in the referenced press release for comparative purposes to help investors analyze trends, but specific comparative figures are not present in this document.
Guidance, Outlook, and Management Commentary
- Guidance: The company issued guidance regarding expected revenue for the fourth quarter of fiscal 2009.
- Management Commentary: Management utilizes non-GAAP measures for planning, forecasting, and compensation purposes to communicate underlying operational performance separate from items with disproportionate impacts.
- Regulatory Note: The information is furnished under Item 2.02 and Item 7.01 and is not deemed "filed" for purposes of Section 18 of the Exchange Act, nor is it incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 (the Press Release) to obtain specific revenue, net income, and cash flow figures for Q3 FY2009.
- Verify the specific revenue guidance provided for Q4 FY2009 in the press release.
- Examine the reconciliation table in the press release to understand the magnitude of non-GAAP adjustments (e.g., impairment charges, restructuring costs) relative to GAAP results.
- Confirm the company's current liquidity position and debt levels, as these are not detailed in the 8-K text itself.