Summary
Gilead Sciences, Inc. (GILD) filed an 8-K on February 2, 2012, to report its financial results for the fourth quarter and full year ended December 31, 2011. The filing primarily serves to attach the press release detailing these results, which includes both GAAP and non-GAAP financial information. While the 8-K itself does not contain the detailed financial figures, it directs investors to Exhibit 99.1, the press release, for comprehensive information on revenue, earnings, and other key performance indicators. Management's use of non-GAAP measures is highlighted as a tool for internal financial planning and operational assessment, with a disclaimer that these measures should supplement, not replace, GAAP reporting.
Key Highlights
- 1Gilead Sciences announced its financial results for Q4 and full year 2011 via an 8-K filing on February 2, 2012.
- 2The primary purpose of the 8-K is to furnish the press release containing the detailed financial results as Exhibit 99.1.
- 3The press release includes financial information presented on both a GAAP and non-GAAP basis.
- 4Management believes non-GAAP financial information is useful for investors and for internal operational and financial planning.
- 5A reconciliation between GAAP and non-GAAP financial information is provided within the press release (Exhibit 99.1).
- 6The information furnished in the 8-K and its exhibits is not deemed 'filed' for certain sections of the Securities Exchange Act of 1934, limiting liability under Section 18.
- 7Robin L. Washington, Senior Vice President and Chief Financial Officer, signed the report, indicating CFO-level review of the disclosed financial information.