Summary
This 8-K filing from Abbott Laboratories, dated July 22, 2015, primarily serves to report the company's second-quarter 2015 financial results. The most critical information for investors lies within the accompanying press release (Exhibit 99.1), which details the company's earnings and financial condition. Investors should pay close attention to the discussion of non-GAAP financial measures, which Abbott's management uses to provide a clearer view of ongoing operational performance.
Key Highlights
- 1Abbott Laboratories filed an 8-K on July 22, 2015, to report its second-quarter 2015 financial results.
- 2The filing incorporates a press release (Exhibit 99.1) detailing the company's results of operations and financial condition.
- 3Abbott utilized non-GAAP financial measures in its earnings announcement.
- 4These non-GAAP measures exclude items such as cost reduction initiatives, transaction-related costs, and tax expenses from repatriated earnings.
- 5Other adjustments in the non-GAAP measures include gains from Mylan stock sales and changes in contingent consideration.
- 6Abbott's management believes these non-GAAP measures offer better insight into ongoing business performance.
- 7The company advises investors to consider these non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.
Frequently Asked Questions
The main purpose of this 8-K filing is to publicly announce and report Abbott Laboratories' financial results for the second quarter of 2015.
Non-GAAP financial measures are financial metrics that are not prepared in accordance with Generally Accepted Accounting Principles (GAAP). Abbott uses them to exclude certain unusual or unpredictable items (like cost reduction initiatives, transaction costs, tax adjustments, and stock sale gains) to provide investors with a clearer perspective on the company's ongoing operational performance and how management internally assesses its business.
Abbott's management believes these non-GAAP measures provide useful information to investors for evaluating ongoing business performance. However, the company cautions investors to consider these non-GAAP measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.
The detailed financial results are provided in the press release dated July 22, 2015, which is furnished as Exhibit 99.1 to this 8-K filing and incorporated by reference.