Summary
Gilead Sciences, Inc. filed an 8-K on April 20, 2011, to report its financial results for the first quarter ended March 31, 2011. The filing primarily directs investors to a press release (Exhibit 99.1) which contains detailed financial information, including both GAAP and non-GAAP figures. Management believes the non-GAAP measures provide additional useful insights for investors, complementing the official GAAP statements, and are used internally for operational and financial planning. Investors should review the press release for specific revenue, earnings, and other key financial performance indicators for the quarter. The inclusion of non-GAAP information suggests that investors should pay close attention to the provided reconciliations to understand the differences between GAAP and non-GAAP reporting and how these adjustments impact the reported financial performance.
Key Highlights
- 1Gilead Sciences announced its first-quarter 2011 financial results via an 8-K filing on April 20, 2011.
- 2The press release detailing the financial results is filed as Exhibit 99.1 to the 8-K.
- 3Gilead presented financial information on both a GAAP and a non-GAAP basis for Q1 2011 and Q1 2010.
- 4Management stated that non-GAAP financial information is provided because it is useful for investors and used internally for operational planning.
- 5Reconciliations between GAAP and non-GAAP financial information are available in the press release.
- 6The filing does not contain specific financial numbers but refers to the accompanying press release for details.