Why does Keysight provide non-GAAP financial information?

Keysight provides non-GAAP financial information to offer investors a clearer view of their core operational performance and future prospects, as seen "through the eyes of management." They believe it helps in understanding the ongoing business performance by excluding certain items like amortization, share-based compensation, and acquisition costs.

Are the non-GAAP results presented the same as GAAP results?

No, the non-GAAP results are not prepared in accordance with Generally Accepted Accounting Principles (GAAP) and may differ from the non-GAAP information provided by other companies. They exclude specific items that management believes do not reflect the company's ongoing operating performance.

Is the information in this filing legally binding for SEC purposes?

The information provided in this 8-K, specifically the press release, is furnished and not 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934. This means it's for informational purposes and does not subject the company to liability under that section.

KEYS 8-K: Earnings & Results

Q: What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to formally announce Keysight Technologies' financial results for the first fiscal quarter ended January 31, 2022, by attaching the press release that contains these details.

Summary

Keysight Technologies, Inc. (KEYS) filed an 8-K on February 17, 2022, to announce its financial results for the first fiscal quarter ended January 31, 2022. The filing primarily includes a press release (Exhibit 99.1) detailing these results and the company's use of non-GAAP financial measures. Management emphasizes that these non-GAAP figures are provided to offer a more meaningful supplemental view of operational performance and future prospects, allowing investors to see results "through the eyes of management" and aiding in comparisons to historical data and competitors. Investors should note that the press release contains the substance of the quarterly results, while the 8-K itself serves as the official reporting mechanism for this announcement. The company explicitly states its non-GAAP measures exclude items such as amortization, share-based compensation, and acquisition costs, which may differ from non-GAAP reporting by other companies. This disclosure format is standard for earnings announcements and is furnished, not filed, meaning it doesn't carry the same legal implications as a 'filed' document under Section 18 of the Exchange Act.

Key Highlights

1Keysight Technologies (KEYS) announced its financial results for the first fiscal quarter ended January 31, 2022, via an 8-K filing.
2The primary content of the filing is the press release (Exhibit 99.1) containing the detailed financial results.
3The company utilizes non-GAAP financial information alongside GAAP results to provide supplemental insights into operational performance.
4Non-GAAP measures are presented to enhance investor understanding of core financial performance and future prospects.
5Management uses non-GAAP metrics for internal comparisons, competitor analysis, and investor guidance.
6The filing clarifies that non-GAAP exclusions (e.g., amortization, share-based compensation, acquisition costs) may differ from those used by other companies.
7This information is furnished and not 'filed,' meaning it's for informational purposes and doesn't impact the company's Section 18 Exchange Act liability.

Keysight Technologies, Inc. 8-K Report, Financial Results (Feb 17, 2022)

Summary

Key Highlights

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