8-KOther Events

INTUIT INC. 8-K Report (Aug 19, 2003)

Filed August 19, 2003For Securities:INTU

Summary

Intuit Inc. filed an 8-K report on August 19, 2003, to announce its financial results for the fiscal quarter and year ended July 31, 2003. The primary purpose of the filing is to furnish a press release (Exhibit 99.01) containing these results. Investors should note that the press release utilizes "pro forma" financial measures which exclude certain items like acquisition-related charges, amortization of goodwill and intangibles, and discontinued operations. While Intuit's management believes these pro forma measures offer a meaningful view of core operating results and aid in performance assessment and forecasting, it's crucial for investors to understand they are non-GAAP measures and may differ from those used by other companies. The filing explicitly directs investors to the press release for reconciliations between these pro forma figures and their most directly comparable GAAP measures, which are essential for a complete financial picture.

Key Highlights

  • 1Announcement of financial results for the fiscal quarter and year ended July 31, 2003.
  • 2Filing includes a press release (Exhibit 99.01) furnished to the SEC.
  • 3Press release uses 'pro forma' financial measures, which are non-GAAP.
  • 4Pro forma measures exclude items such as acquisition-related charges and discontinued operations.
  • 5Management asserts pro forma measures provide supplemental insight into core operating results.
  • 6Filing emphasizes that pro forma measures are not GAAP-compliant and may differ from other companies' metrics.
  • 7Investors are directed to the press release for GAAP reconciliations of pro forma financial information.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and furnish Intuit Inc.'s financial results for the fiscal quarter and year ended July 31, 2003, through an attached press release (Exhibit 99.01).

Pro forma financial measures are non-GAAP metrics used by Intuit to exclude items not considered part of core operations, such as acquisition-related charges (e.g., amortization of goodwill, intangibles) and discontinued operations. Management uses these to assess ongoing performance and for planning, believing they offer a meaningful supplemental view.

No, investors should not rely solely on the pro forma numbers. The filing explicitly states these are non-GAAP measures, may differ from other companies' metrics, and are not a substitute for GAAP measures. Investors should review the reconciliations provided in the press release to understand the relationship between pro forma and GAAP financial data.

The information in this report and the attached press release are intended to be 'furnished,' not 'filed.' This means they are provided to the SEC but do not carry the same legal implications under Section 18 of the Securities Exchange Act of 1934 as formally filed documents.