Halacha designates two different "deadlines" for the recitation of the Shaharit prayer in the morning. Optimally, one should recite the Shaharit prayer by the end of the fourth hour of the day. (The term "hours" in this context refers to Halachic hours, or "Sha’ot Zemaniyot," each of which is one-twelfth of the daylight period on any given day.) If, however, one did not recite Shaharit by this time, he may still recite the prayer until the end of the sixth hour. One who prays Shaharit in between the fourth and sixth hours receives reward for praying, but does not receive reward for praying at the proper time.
This Halacha applies even if somebody intentionally delayed the Shaharit prayer until after the fourth hour. Even though he purposefully neglected to pray until after the preferred time, he is nevertheless given the opportunity to recite the prayer, until the end of the sixth hour.
There is, however, a distinction between one who intentionally delays the prayer and one who does so inadvertently, with respect to the Berachot of Baruch She’amar and Yishtabah. If a person unintentionally missed the ideal time for prayer, or if this happened due to circumstances beyond his control, then he may recite Shaharit as usual until the end of the sixth hour. However, a person who intentionally delayed the prayer until after the fourth hour may not recite Baruch She’amar and Yishtabah. Since there is a dispute among the Halachic authorities regarding the recitation of Shaharit in this case, one is allowed to recite the Amida prayer, but he may not recite the Berachot of Baruch She’amar and Yishtabah. He must recite these Berachot without Hashem’s Name in the concluding blessing. However, as mentioned, if the delay was not intentional, then the individual may recite the full Shaharit prayer as usual, including these Berachot.
Summary: Although one must pray Shaharit by the end of the fourth Halachic hour of the day, one who did not recite Shaharit by this point – even if he delayed the prayer intentionally – may still recite Shaharit, until the end of the sixth hour. In a case where one intentionally delayed the prayer until after the fourth hour, he may not recite the Berachot of Baruch She’amar and Yishtabah, unless he omits the concluding blessing in each Beracha.