Summary
Amgen Inc. (AMGN) filed an 8-K on April 26, 2017, to furnish a press release detailing its unaudited financial results for the first quarter ended March 31, 2017. The report highlights the company's use of non-GAAP financial measures, such as non-GAAP earnings per share and operating income, to provide a more insightful view of its ongoing business performance by excluding items like acquisition-related expenses, restructuring costs, and legal settlements. These adjustments are intended to facilitate better comparisons of operating performance across different periods. Investors should note that while Amgen uses these non-GAAP measures to enhance understanding, they are not a substitute for GAAP reporting. The company also provided Free Cash Flow (FCF) as an additional liquidity measure. The press release itself contains the detailed financial information and reconciliations of non-GAAP to GAAP measures. This information is furnished and not deemed 'filed' for regulatory purposes.
Key Highlights
- 1Amgen reported its unaudited financial results for the first quarter ended March 31, 2017.
- 2The company furnished a press release (Exhibit 99.1) containing these financial results.
- 3Amgen utilizes non-GAAP financial measures, including non-GAAP EPS and operating income, for enhanced investor analysis.
- 4Key adjustments to GAAP figures to derive non-GAAP measures include acquisition-related expenses, restructuring costs, and legal settlements.
- 5The company believes these non-GAAP measures provide a more meaningful evaluation of ongoing operating performance and facilitate period-to-period comparisons.
- 6Free Cash Flow (FCF) was also presented as a measure of liquidity.
- 7Reconciliations between GAAP and non-GAAP financial measures are included in the furnished press release.