Summary
This Form 8-K filing from priceline.com Incorporated (now Booking Holdings Inc.) on May 1, 2003, primarily serves to announce the company's financial results for the fiscal quarter ended March 31, 2003. The report includes attached exhibits containing the consolidated balance sheet as of March 31, 2003, and December 31, 2002, along with the consolidated statement of operations for the three-month periods ending March 31, 2002, and March 31, 2003. Notably, the filing also addresses the use of non-GAAP financial measures. priceline.com is presenting net loss excluding warrant costs and net loss per share excluding warrant costs and preferred stock dividends. The company explains that these non-GAAP measures are intended to provide investors with a clearer view of core operating results by excluding non-cash expenses and to facilitate comparison with prior guidance. These measures are presented alongside GAAP results and include reconciliations to the most directly comparable GAAP figures.
Key Highlights
- 1Announcement of Q1 2003 financial results for priceline.com Incorporated.
- 2Inclusion of consolidated balance sheets (as of March 31, 2003, and December 31, 2002) and statements of operations (Q1 2002 vs. Q1 2003) as exhibits.
- 3Disclosure of non-GAAP financial measures: net loss excluding warrant costs and net loss per share excluding warrant costs and preferred stock dividends.
- 4Explanation that non-GAAP measures are intended to provide insight into core operating performance by excluding non-cash charges.
- 5Provision of reconciliations between non-GAAP measures and their most directly comparable GAAP measures.
- 6Filing is furnished under Item 9 (Regulation FD Disclosure) rather than Item 12, meaning the information is not considered 'filed' for certain legal purposes.
- 7The press release contains forward-looking statements regarding 2003 performance.