Summary
Gilead Sciences, Inc. (GILD) filed a Form 8-K on July 26, 2011, primarily to announce its financial results for the second quarter ended June 30, 2011. The report indicates that the company released a press release detailing these results. Gilead provided both GAAP and non-GAAP financial information, with management believing the non-GAAP figures offer additional utility for investors to understand operational performance and financial planning, alongside the standard GAAP reporting. Investors should note that this 8-K filing itself does not contain the detailed financial figures but rather incorporates them via an attached press release (Exhibit 99.1). The press release, which is crucial for a full understanding of the results, includes reconciliations between GAAP and non-GAAP financial measures. The information provided in this filing is not intended to be deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it carries limited legal liability regarding misstatements in that context.
Key Highlights
- 1Gilead Sciences announced its second-quarter 2011 financial results on July 26, 2011.
- 2The 8-K filing incorporates the financial results through an attached press release (Exhibit 99.1).
- 3The company presented financial results using both Generally Accepted Accounting Principles (GAAP) and non-GAAP measures.
- 4Management views non-GAAP financial information as valuable for investors to supplement GAAP results.
- 5Non-GAAP financial measures are used internally by management for operational and financial planning.
- 6A reconciliation between GAAP and non-GAAP figures is available within the press release.
- 7The information in this 8-K filing is not considered 'filed' for purposes of Section 18 of the Exchange Act.