Summary
This filing is an amendment to a previous 8-K filing by Bristol-Myers Squibb Company (BMY) and addresses an adjustment to their first quarter 2005 financial results. The company has revised its supplemental financial information to reflect a $110 million reduction in pre-tax earnings. This adjustment is primarily due to litigation reserves set aside for previously disclosed matters, specifically related to wholesaler inventory issues and certain other accounting matters. While the original press release on April 28, 2005, announced the Q1 2005 results, this amendment clarifies a subsequent refinement to that data. Investors should note that this $110 million reduction impacts pre-tax earnings and is linked to ongoing accounting and legal matters. The revised supplemental information has been furnished on the company's website and is incorporated by reference into this filing.
Key Highlights
- 1Bristol-Myers Squibb Company (BMY) filed an 8-K/A amendment on May 9, 2005.
- 2The amendment revises supplemental financial information previously released for the first quarter of 2005.
- 3A $110 million reduction in pre-tax earnings has been recorded.
- 4This reduction is attributed to litigation reserves for previously disclosed matters.
- 5The matters specifically mentioned are wholesaler inventory and certain other accounting issues.
- 6Revised supplemental information is available on the BMY website (www.bms.com) and incorporated by reference.