Summary
Intuit Inc. filed an 8-K on November 17, 2004, to announce its financial results for the quarter ended October 31, 2004. The filing primarily directs investors to a press release (Exhibit 99.01) containing these results. A key aspect of the announcement is Intuit's use of "pro forma" or non-GAAP financial measures, which management believes offer a more meaningful view of core operating performance by excluding items such as acquisition-related charges, amortization of goodwill and intangibles, and gains/losses on investments. While these pro forma figures are presented to supplement GAAP measures and facilitate internal comparisons, investors are cautioned that they are not prepared in accordance with GAAP and may differ from similar measures used by other companies. The company emphasizes that pro forma measures should not replace GAAP measures. The press release, which contains detailed reconciliations between GAAP and pro forma figures, is the primary source of the financial data for this reporting period.
Key Highlights
- 1Intuit Inc. reported financial results for the quarter ended October 31, 2004, via an 8-K filing.
- 2The primary information source is a press release (Exhibit 99.01) attached to the filing.
- 3The company utilized "pro forma" (non-GAAP) financial measures in its reporting.
- 4Pro forma measures exclude acquisition-related charges, amortization of goodwill/intangibles, and investment gains/losses.
- 5Management believes pro forma figures provide better insight into core operating results.
- 6Investors are advised that pro forma measures are supplemental and not a substitute for GAAP.
- 7Reconciliations between GAAP and pro forma measures are available in the press release.