Summary
This 8-K filing from Adobe Inc. (ADBE) on September 19, 2012, primarily announces the company's financial results for its second fiscal quarter ended August 31, 2012, via an attached press release (Exhibit 99.1). The report highlights Adobe's use of non-GAAP financial measures, which exclude items such as stock-based compensation, restructuring charges, and amortization of purchased intangibles. The company believes these non-GAAP measures provide a more meaningful supplemental view of operational performance and aid in budgeting, resource allocation, and comparisons with historical results and competitors. Investors are encouraged to review these non-GAAP figures in conjunction with the corresponding GAAP measures due to the limitations of non-GAAP reporting. While the specific financial figures for the quarter are detailed in the furnished press release, the 8-K itself focuses on the methodology and rationale behind Adobe's non-GAAP reporting. This includes a detailed explanation of why certain expenses like stock-based compensation and amortization of intangibles are excluded, citing their non-cash nature or their exclusion from core business profitability assessments. The filing also notes that the information furnished is not deemed 'filed' for certain regulatory purposes, a standard disclaimer for such announcements.
Key Highlights
- 1Adobe Systems Incorporated (ADBE) filed an 8-K on September 19, 2012, to report its second fiscal quarter 2012 financial results.
- 2The primary exhibit is a press release detailing the company's financial performance for the quarter ended August 31, 2012.
- 3Adobe prominently uses and explains its non-GAAP financial measures in the filing.
- 4Key exclusions in non-GAAP calculations include stock-based compensation, restructuring charges, and amortization of purchased intangibles.
- 5The company states that non-GAAP measures are used for internal budgeting, resource allocation, and performance comparisons.
- 6Adobe emphasizes that non-GAAP results are supplemental and should be viewed alongside GAAP measures.
- 7The press release information is furnished, not deemed 'filed' under the Exchange Act unless expressly incorporated by reference.