8-KEarnings & ResultsExhibits & Filings

Salesforce, Inc. 8-K Report, Financial Results (May 18, 2005)

Filed May 18, 2005For Securities:CRM

Summary

Salesforce.com, Inc. (CRM) filed an 8-K on May 18, 2005, to announce its financial results for the first quarter ended April 30, 2005. The report primarily references a press release detailing these results. A key aspect of the disclosure is the presentation of both GAAP and non-GAAP financial measures, particularly for net income and earnings per diluted share. This allows investors to analyze the company's performance with and without the impact of a specific, one-time non-cash income item. The non-GAAP adjustments are made to exclude a $285,000 one-time, non-cash income gain recognized in the first quarter of fiscal year 2006. This gain arose from an agreement with the company's landlord to modify a lease abandonment liability related to office space vacated in December 2001. Management asserts that these non-GAAP figures provide a more insightful view of the company's ongoing operational results and performance trends, which is crucial for investors assessing the core business momentum.

Key Highlights

  • 1Salesforce.com reported its first-quarter fiscal year 2006 financial results via an 8-K filing on May 18, 2005.
  • 2The company provided both GAAP and non-GAAP financial metrics for net income and earnings per diluted share.
  • 3A one-time, non-cash income amount of $285,000 was recognized in Q1 FY2006.
  • 4This non-cash income resulted from a lease modification agreement with the landlord, resolving a prior lease abandonment liability.
  • 5Management believes non-GAAP measures offer a clearer understanding of underlying operational performance and trends.
  • 6The filing incorporates by reference a press release dated May 18, 2005, containing the detailed financial results.

Frequently Asked Questions

This 8-K filing is primarily to announce Salesforce.com's financial results for the first quarter ended April 30, 2005, and to provide investors with the relevant press release containing these results.

Salesforce is providing non-GAAP financial measures, specifically for net income and earnings per diluted share, to offer investors a clearer perspective on the company's core operational performance by excluding a one-time, non-cash income event.

The one-time, non-cash income item amounted to $285,000 and was recognized in the first quarter of fiscal year 2006. It stemmed from an agreement with the company's landlord that resolved a previous lease abandonment liability for office space vacated in December 2001.

The information within this 8-K and its exhibits is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, meaning it does not carry the same liabilities as formally filed information. It also is not automatically incorporated by reference into other SEC filings.