Summary
Gilead Sciences, Inc. (GILD) filed an 8-K/A amendment on July 25, 2016, primarily to furnish a press release detailing its financial results for the second quarter ended June 30, 2016. The press release, included as an exhibit, provides both GAAP and non-GAAP financial metrics, which management utilizes for internal operational and financial planning purposes. Investors are advised to review these non-GAAP figures in conjunction with the official GAAP financial statements, as non-GAAP measures may vary in definition and calculation across the industry.
Key Highlights
- 1Gilead Sciences announced its financial results for the quarter ended June 30, 2016, via a press release on July 25, 2016.
- 2The filing is an amendment (8-K/A) to a previous report.
- 3Both GAAP and non-GAAP financial information were presented for the second quarter of 2016 and 2015.
- 4Management believes non-GAAP information is useful for investors, aiding in the understanding of operating results.
- 5Non-GAAP financial measures are not prepared under comprehensive accounting rules and should supplement GAAP data.
- 6Reconciliations between GAAP and non-GAAP figures are available on pages 8-10 of the press release (Exhibit 99.1).
- 7The information furnished in this 8-K is not considered 'filed' for certain regulatory purposes, including Section 18 of the Exchange Act.
Frequently Asked Questions
The primary purpose of this 8-K/A filing is to provide investors with Gilead Sciences' financial results for the second quarter ended June 30, 2016, through an attached press release. This filing is an amendment, suggesting it supplements or corrects prior information.
The company is presenting both U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP financial information. Management views the non-GAAP information as a useful supplement for investors, particularly for understanding operational performance.
The detailed financial results, including reconciliations between GAAP and non-GAAP figures, are located in the press release issued by Gilead Sciences on July 25, 2016, which is filed as Exhibit 99.1 to this 8-K/A report. Specifically, reconciliations are on pages 8, 9, and 10 of the press release.
Yes, the filing states that the information provided in this Form 8-K and its exhibits should not be deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to its liabilities. It also clarifies that this information will not be automatically incorporated by reference into future filings.