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Previous: FEDERATED MUNICIPAL SECURITIES FUND INC, 485BPOS, 1999-07-30 |
Next: MONARCH SERVICES INC, SC 13D, 1999-07-30 |
<PAGE> 1
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): July 30, 1999
HARRIS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3863 34-0276860
- ------------------------------- ------------------------ -------------------
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation) Identification No.)
1025 West NASA Blvd., Melbourne, FL 32919
----------------------------------------- ---------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (407) 727-9100
No Change
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(Former name or former address, if changed since last report.)
<PAGE> 2
Items 1-4. Not Applicable.
Item 5. Other Events.
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On July 28, 1999 Harris Corporation (the "Company") made publicly
available its annual earnings press release, including its financial results for
the fiscal year ended July 2, 1999. Results presented were reported on a
continuing operations basis and correspondingly included restated financial
results for comparable prior periods. The Company is providing herewith
quarterly financial information for the first three quarters of fiscal year 1999
which is restated to reflect continuing operations.
Such financials are filed herewith as Exhibit 99
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits.
----------------------------------
(a) Financial Statements.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
The following document is filed as an Exhibit to this Report:
99. Harris Corporation Unaudited Consolidated Statement
of Income for the quarters ended October 2, 1998,
January 1, 1999, April 2, 1999 and July 2, 1999.
Items 8-9. Not Applicable.
<PAGE> 3
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/ David S. Wasserman
----------------------------------------
Name: David S. Wasserman
Title: Vice President & Treasurer
Date: July 30, 1999
<PAGE> 4
EXHIBIT INDEX
Exhibit No.
Under Reg.
S-K, Item 601 Description
- ----------------- -------------------------------
99. Harris Corporation Unaudited Consolidated Statement
of Income for the quarters ended October 2, 1998,
January 1, 1999, April 2, 1999 and July 2, 1999.
<PAGE> 1
EXHIBIT 99
HARRIS CORPORATION UNAUDITED
CONSOLIDATED STATEMENT OF INCOME
FOR THE QUARTERS ENDED OCTOBER 2, 1998, JANUARY 1, 1999,
APRIL 2, 1999 AND JULY 2, 1999*
---------------------
(In millions, except per share amounts)
<TABLE>
<CAPTION>
Quarters Ended (Unaudited)
-------------------------------------------------
October 2 January 1 April 2 July 2
1998 1999 1999 1999
------- ------- ------- -------
<S> <C> <C> <C> <C>
REVENUE
Revenue from product sales, rentals, and services $ 412.6 $ 417.5 $ 445.4 $ 468.0
COSTS AND EXPENSES
Cost of product sales, rentals, and services 302.6 296.9 327.3 351.5
Engineering, selling and administrative expenses 86.5 98.7 87.4 111.7
Restructuring expenses -- -- -- 5.1
Special charge for litigation costs 20.6 -- -- --
Interest 2.8 (0.2) 5.1 2.1
Other-net (11.2) (5.1) (9.1) (7.2)
------- ------- ------- -------
401.3 390.3 410.7 463.2
------- ------- ------- -------
Income from continuing operations before income taxes 11.3 27.2 34.7 4.8
Income taxes 4.1 9.8 12.5 1.7
------- ------- ------- -------
Income from continuing operations before extraordinary item 7.2 17.4 22.2 3.1
Discontinued operations net of income taxes 21.2 35.4 19.2 (63.4)
------- ------- ------- -------
Income (loss) before extraordinary item 28.4 52.8 41.4 (60.3)
Extraordinary loss from early retirement of debt net of
income taxes -- -- -- (9.2)
------- ------- ------- -------
Net income (loss) $ 28.4 $ 52.8 $ 41.4 $ (69.5)
======= ======= ======= =======
NET INCOME (LOSS) PER COMMON SHARE
Basic:
Continuing operations before extraordinary item $ 0.09 $ 0.22 $ 0.28 $ 0.04
Discontinued operations 0.27 0.44 0.24 (0.80)
Extraordinary loss -- -- -- (0.12)
------- ------- ------- -------
$ 0.36 $ 0.66 $ 0.52 $ (0.88)
======= ======= ======= =======
Diluted:
Continuing operations $ 0.09 $ 0.22 $ 0.28 $ 0.04
Discontinued operations 0.27 0.44 0.24 (0.80)
Extraordinary loss -- -- -- (0.12)
------- ------- ------- -------
$ 0.36 $ 0.66 $ 0.52 $ (0.88)
======= ======= ======= =======
Cash dividends paid per common share 0.24 0.24 0.24 0.24
Average diluted shares outstanding 79.9 79.8 79.7 79.4
</TABLE>
* All financial information for periods preceding the quarter ended July 2, 1999
have been restated to reflect continuing operations of the Company.
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