It picked up exactly what you asked, but it printed even when it didn't pick anything up. as you use Perl, your mind will assimilate to a more perlish way of procedural thinking. for instance, the same snippet could be written as

while( <SMRT> ){
        chomp;
        next unless /Power_On_Hours(.*)/i;
        $hours = $1;
        @time = split(' ',$hours);
        print "Power on hours = $time[7]\n";
}
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although the overall effect is the same as using an if statement the intention is more explicit: you don't care about the line unless it matches the regex. as perl takes over you mind, you should notice a decrease in errors of this sort