8-KEarnings & ResultsExhibits & Filings

INTUIT INC. 8-K Report, Financial Results (Nov 17, 2004)

Filed November 17, 2004For Securities:INTU

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.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce Intuit Inc.'s financial results for the quarter ended October 31, 2004, and to provide investors with access to the detailed press release containing these results.

Pro forma financial measures are non-GAAP measures that Intuit uses to provide a view of its operating results excluding certain items like acquisition-related charges (e.g., amortization of goodwill and intangibles) and gains/losses on investments. Management uses these measures to better assess the performance of ongoing operations and for internal planning and forecasting, believing they offer a more meaningful view of core business performance.

Investors should interpret pro forma financial information as supplemental to, but not a substitute for, financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). While Intuit believes these measures offer valuable insights, they are not prepared according to GAAP and may differ from those used by other companies. The company provides reconciliations to the most directly comparable GAAP measures in the accompanying press release.

The detailed financial results, including reconciliations between pro forma and GAAP measures, are found in the press release issued by Intuit Inc. on November 17, 2004, which is attached as Exhibit 99.01 to this 8-K filing.