8-KOther Events

INTUIT INC. 8-K Report (Aug 18, 2004)

Filed August 18, 2004For Securities:INTU

Summary

Intuit Inc. (INTU) filed an 8-K on August 18, 2004, to announce its financial results for the fiscal quarter and year ended July 31, 2004. The primary purpose of the filing is to provide investors with a press release detailing these results, which includes non-GAAP, or "pro forma," financial measures. These pro forma figures are presented alongside GAAP results to offer a view of Intuit's core operating performance by excluding items such as acquisition-related charges and gains/losses from investments. Management emphasizes that these pro forma measures are used internally for performance assessment and forecasting, and they believe these provide meaningful supplemental information. Investors are advised to review the reconciliations provided in the attached press release to understand how the pro forma numbers are derived from their GAAP counterparts, as these measures may differ from those reported by other companies. The filing is furnished and not deemed 'filed' for regulatory purposes.

Key Highlights

  • 1Announcement of financial results for the fiscal quarter and year ended July 31, 2004.
  • 2Inclusion of a press release (Exhibit 99.01) containing detailed financial results.
  • 3Presentation of non-GAAP ("pro forma") financial measures alongside GAAP results.
  • 4Pro forma measures exclude acquisition-related charges (e.g., goodwill amortization) and investment gains/losses.
  • 5Management uses pro forma measures to assess core operating performance and for planning/forecasting.
  • 6Reconciliations between GAAP and pro forma measures are provided in the attached press release.
  • 7Information furnished is not considered 'filed' for the purposes of the Securities Exchange Act of 1934.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Intuit Inc.'s financial results for the fiscal quarter and year ended July 31, 2004, by attaching a press release that contains these results and related commentary.

Pro forma financial measures are non-GAAP measures that Intuit uses to provide supplemental information about its core operating results. They exclude items like acquisition-related charges (e.g., amortization of goodwill and intangibles) and gains/losses on marketable securities, which management believes are not directly related to ongoing operations. Intuit uses these measures for internal performance assessment and forecasting.

No, the pro forma financial measures are not prepared in accordance with Generally Accepted Accounting Principles (GAAP). Intuit notes that these measures may differ from those used by other companies. Investors are encouraged to review the reconciliations provided in the attached press release to compare them to the most directly comparable GAAP measures.

The information in this Report and the attached exhibit are furnished and are not considered 'filed' for purposes of the Securities Act of 1934, nor will they be automatically incorporated by reference into future filings under the Securities Act of 1933, unless specifically stated otherwise in such future filings.