Summary
The Bank of New York Mellon Corporation (BK) filed an 8-K on January 24, 2008, to report on its financial results for the full year and fourth quarter of 2007. The report primarily serves to announce that the company held a conference call and webcast on January 17, 2008, to discuss these results and made a "Quarterly Earnings Summary" available on its website. This earnings summary, included as an exhibit, contains information that may be considered non-GAAP financial measures.
Key Highlights
- 1BK announced its 2007 full-year and fourth-quarter results via a conference call and webcast on January 17, 2008.
- 2A "Quarterly Earnings Summary" for the periods was made available on the company's website.
- 3The earnings summary is furnished as Exhibit 99.1 to the 8-K filing.
- 4The company acknowledges that the earnings summary may include non-GAAP financial measures.
- 5BK's management believes these non-GAAP measures are useful for analyzing ongoing operations and comparing performance across periods.
- 6These non-GAAP items are excluded from internally used segment measures evaluated under GAAP, as they are not deemed relevant for segment performance evaluation.
- 7The filing's primary purpose is to provide public access to the earnings information discussed during the January 17th call.
Frequently Asked Questions
The main purpose of this 8-K filing is to formally report that The Bank of New York Mellon Corporation (BK) held a conference call and webcast on January 17, 2008, to discuss its financial results for the full year and fourth quarter of 2007, and to make its "Quarterly Earnings Summary" publicly available.
No, this 8-K report does not contain detailed financial statements within the report itself. Instead, it refers investors to a "Quarterly Earnings Summary" (Exhibit 99.1) which was made available on the company's website and furnished with this filing.
Non-GAAP financial measures are financial metrics not calculated according to Generally Accepted Accounting Principles (GAAP). The company mentions them because its "Quarterly Earnings Summary" likely includes these measures. BK's management believes these non-GAAP measures are valuable for investors to analyze ongoing operations and compare performance over time, even though they are excluded from internal segment performance evaluations.
Investors can find the detailed results in the "The Bank of New York Mellon Quarterly Earnings Summary for full year 2007 and fourth quarter 2007 dated January 17, 2008," which is included as Exhibit 99.1 to this 8-K filing. It was also made available on the company's website.