8-KOther Events

CHURCH & DWIGHT CO INC /DE/ 8-K Report (Nov 3, 2003)

Filed November 3, 2003For Securities:CHD

Summary

This 8-K filing from Church & Dwight Co., Inc. (CHD) on November 3, 2003, announces the company's financial results for the third quarter ended September 26, 2003. The report primarily consists of a press release detailing these earnings and information about an investor and analyst conference held on the same day. Investors should note the company's use of non-GAAP financial measures, EBITDA and adjusted net income, which management believes provide a more meaningful way to assess liquidity and performance by excluding non-recurring items and for covenant compliance. The filing also includes reconciliations for these non-GAAP measures to their closest GAAP equivalents, net cash provided by operating activities and net income, respectively. This ensures transparency for investors in understanding how these alternative performance metrics are derived. The company's management finds these adjusted figures particularly useful for evaluating operational performance and financial flexibility.

Key Highlights

  • 1Announcement of Third Quarter 2003 Financial Results.
  • 2Press release dated November 3, 2003, is filed as an exhibit.
  • 3Investor and analyst conference held on November 3, 2003.
  • 4Company is utilizing non-GAAP financial measures: EBITDA and Adjusted Net Income.
  • 5Management believes EBITDA is useful for evaluating and comparing liquidity.
  • 6EBITDA is a required component for the Company's credit facility financial covenants.
  • 7Management believes Adjusted Net Income is useful for evaluating performance by adjusting for non-recurring items.

Frequently Asked Questions

The filing discusses the company's third quarter 2003 financial results and highlights the use of two non-GAAP financial measures: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and Adjusted Net Income. Reconciliations to GAAP measures (Net Cash Provided by Operating Activities for EBITDA, and Net Income for Adjusted Net Income) are provided.

Management believes these non-GAAP measures are useful because they allow investors and management to evaluate and compare the company's liquidity (EBITDA) and performance (Adjusted Net Income) in a more meaningful manner. EBITDA is particularly important as it is a required component of the company's credit facility covenants, and Adjusted Net Income helps in evaluating performance by excluding non-recurring items.

The primary purpose of this 8-K filing is to formally report the company's third quarter 2003 earnings through the dissemination of a press release and to announce an associated investor and analyst conference.