Summary
Abbott Laboratories filed an 8-K report on October 15, 2008, to announce its third-quarter 2008 financial results. The report includes a press release detailing these results, which are presented using both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. The company utilizes non-GAAP measures, such as net earnings and diluted earnings per share excluding specified items, to provide a clearer view of ongoing business performance by adjusting for unusual or unpredictable factors like acquisition costs and restructuring charges.
Key Highlights
- 1Abbott Laboratories announced its third-quarter 2008 financial results on October 15, 2008.
- 2The 8-K filing includes a press release (Exhibit 99.1) containing the detailed results.
- 3The company provided results using both GAAP and non-GAAP financial measures.
- 4Non-GAAP measures exclude specified items such as acquisition-related costs, cost reduction initiatives, and certain investment gains/losses.
- 5Abbott's management believes non-GAAP measures offer valuable insights into ongoing business performance.
- 6These non-GAAP measures are used internally by management to monitor business performance.
- 7Investors are advised to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report Abbott Laboratories' financial results for the third quarter of 2008, as announced in a press release.
Non-GAAP financial measures are financial metrics that exclude certain items from GAAP-based financial statements. Abbott uses them to provide investors with a better understanding of the company's ongoing operational performance by adjusting for unusual or unpredictable items like acquisition costs and restructuring expenses. Management also uses these measures internally.
Abbott's non-GAAP financial measures typically exclude items such as acquisition-related costs, cost reduction initiatives, acquired in-process research and development, and gains or losses related to certain investments. The specific exclusions would be detailed in the accompanying press release.
Investors should view the non-GAAP financial measures as supplemental information to GAAP measures. While non-GAAP measures can offer insights into underlying business trends, they should be considered alongside, and not as a replacement for, the financial results prepared according to Generally Accepted Accounting Principles (GAAP).