Summary
This 8-K filing from Salesforce.com, Inc. (CRM) on August 17, 2005, primarily announces the company's financial results for the quarter ended July 31, 2005. Investors should note that while GAAP results are provided, Salesforce is also presenting non-GAAP financial measures. These non-GAAP figures exclude a one-time, non-cash income of $285,000 recognized in the first quarter of fiscal year 2006, which stemmed from an adjustment to a lease abandonment accrued liability. The company's management believes these non-GAAP measures offer a clearer view of underlying operational performance and trends.
Key Highlights
- 1Salesforce.com announced its financial results for the quarter ended July 31, 2005.
- 2The company is providing both GAAP and non-GAAP financial results.
- 3Non-GAAP results exclude a $285,000 one-time, non-cash income item.
- 4This non-cash income relates to a reduction in the company's lease abandonment accrued liability.
- 5The adjustment to the lease liability was due to an agreement with the landlord for additional office space.
- 6Management believes non-GAAP measures provide better insight into operational results and trends.
- 7The filing incorporates by reference the press release dated August 17, 2005, as Exhibit 99.1.