Summary
Eli Lilly and Company (LLY) filed an 8-K on July 24, 2014, to report its second quarter and six-month financial results for the period ended June 30, 2014. The filing primarily consists of a press release announcing these results and details about a teleconference held to discuss them. Investors should note that Lilly utilizes non-GAAP financial measures, such as non-GAAP net income and earnings per share, alongside GAAP measures. The company believes these non-GAAP measures offer valuable insights into ongoing operations and facilitate meaningful comparisons by excluding highly variable and unpredictable items.
Key Highlights
- 1Eli Lilly announced its second quarter and six-month financial results for the period ending June 30, 2014.
- 2The company held a teleconference for analysts and media to discuss the quarterly results, which was also webcast.
- 3A press release containing the results and related financial statements was issued on July 24, 2014, and attached as Exhibit 99.1 to the 8-K.
- 4Lilly employs non-GAAP financial measures (e.g., non-GAAP net income, EPS) in addition to GAAP measures.
- 5These non-GAAP measures are used to provide a clearer view of ongoing operations and to aid in period-over-period comparisons.
- 6The company believes non-GAAP measures help investors evaluate operational trends that might otherwise be obscured by one-time or unpredictable items.
Frequently Asked Questions
The main purpose of this 8-K filing is to report Eli Lilly and Company's financial results for the second quarter and the first six months of 2014, which ended on June 30, 2014. It includes a press release detailing these results and information about a related teleconference.
Yes, the filing explicitly states that Eli Lilly uses non-GAAP financial measures, such as non-GAAP net income and earnings per share, in addition to standard GAAP (Generally Accepted Accounting Principles) measures. These non-GAAP figures are intended to offer a more focused view of ongoing operational performance.
Eli Lilly uses non-GAAP financial measures because they believe these metrics can provide useful information to investors by highlighting ongoing operations. They help in making meaningful period-over-period comparisons and identifying operating trends that might be masked or distorted by highly variable, unpredictable items that are difficult to quantify prospectively.
No, the company emphasizes that investors should consider these non-GAAP measures in addition to, and not as a substitute for or superior to, financial performance measures prepared in accordance with GAAP. They are meant to supplement, not replace, the standard financial reporting.