What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to publicly announce and provide investors with Gilead Sciences' financial results for the third quarter and the first nine months ended September 30, 2009, by attaching the relevant press release as an exhibit.

What types of expenses are excluded from Gilead's non-GAAP financial results?

Gilead's non-GAAP financial results exclude several items including, but not limited to, acquisition-related transaction costs, restructuring expenses, amortization of inventory mark-up, amortization of purchased intangibles, and stock-based compensation expenses. Specific exclusions vary slightly between the 2009 and 2008 periods presented.

Why does Gilead provide non-GAAP financial information?

Gilead provides non-GAAP financial information because management uses these figures internally for operating, budgeting, and financial planning. They believe this non-GAAP information can be useful to investors as a supplemental view of the company's operating results when taken in conjunction with the official GAAP financial statements.

Should investors rely solely on the non-GAAP financial results?

No, investors should not rely solely on the non-GAAP financial results. Gilead explicitly states that non-GAAP information is not prepared under comprehensive accounting rules and should only be used to supplement an understanding of the company's operating results as reported under U.S. GAAP. The GAAP figures remain the primary official financial reporting standard.

GILD 8-K: Earnings & Results

Summary

This Form 8-K filing from Gilead Sciences, Inc. (GILD) announces the company's financial results for the third quarter and the first nine months ended September 30, 2009. The report primarily serves to attach the press release detailing these results. Investors should note that Gilead provides both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial metrics. The non-GAAP figures are presented to offer an alternative view of the company's performance, excluding items such as acquisition-related costs, restructuring expenses, and stock-based compensation. Management believes these non-GAAP measures are valuable for investors as they are used internally for operational and financial planning. However, it is crucial for investors to understand that these non-GAAP figures are not prepared under comprehensive accounting rules and should be considered supplementary to the official GAAP financial statements. The filing itself does not contain the detailed financial statements but refers investors to the attached press release for that information.

Key Highlights

1Gilead Sciences announced its financial results for the third quarter and nine months ended September 30, 2009, via a press release filed as Exhibit 99.1.
2The company is providing both GAAP and non-GAAP financial results for the reported periods.
3Non-GAAP financial measures are presented excluding costs such as acquisition-related transaction costs, restructuring expenses, amortization of inventory mark-up, amortization of purchased intangibles, and stock-based compensation.
4Adjustments have been made to non-GAAP figures for the application of APB 25 regarding stock issued to employees.
5Gilead's management utilizes these non-GAAP metrics internally for operational, budgeting, and financial planning purposes.
6Investors are advised that non-GAAP information is not prepared under comprehensive accounting rules and should supplement, not replace, GAAP financial understanding.
7This 8-K filing's information and exhibit are not deemed 'filed' for Section 18 of the Exchange Act liabilities.

GILEAD SCIENCES, INC. 8-K Report, Financial Results (Oct 20, 2009)

Summary

Key Highlights

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