Business Context and Reporting Period
Company: Aviat Networks, Inc. (formerly Harris Stratex Networks, Inc.)
Filing Type: Form 8-K (Current Report)
Report Date: February 3, 2010
Reporting Period: Second quarter of fiscal year 2010, ended January 1, 2010.
Key Financial Metrics
This Form 8-K serves as a notification of the issuance of a press release (Exhibit 99.1) containing the financial results. The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document notes that the press release includes both GAAP and non-GAAP financial measures, with non-GAAP adjustments excluding items such as restructuring charges, amortization of purchased technology, and certain R&D expenses.
Material Changes
The filing text does not explicitly detail material changes versus the prior comparable period. It references the inclusion of historical non-GAAP combined information in the accompanying press release for comparative purposes but does not summarize the specific variances in this document.
Guidance, Outlook, and Management Commentary
- Guidance: The press release issued on February 3, 2010, includes guidance regarding expected revenue for the third quarter of fiscal 2010.
- Management Commentary: Management utilizes non-GAAP measures to monitor gross margin, operating income, and net income for planning and forecasting. They assert these measures help investors understand underlying operational performance separate from items with disproportionate impacts.
- Regulatory Note: The information is furnished under Item 2.02 and 7.01 and is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and EPS figures for Q2 FY2010.
- Verify the specific revenue guidance provided for Q3 FY2010 in the press release.
- Examine the reconciliation table in the press release to understand the adjustments made to derive non-GAAP measures from GAAP results.
- Confirm the impact of restructuring charges and amortization of intangible assets on the reported GAAP results.