Summary
Eli Lilly and Company (LLY) filed an 8-K report on October 23, 2014, to announce its financial results for the third quarter and the nine-month period ended September 30, 2014. The report indicates that the company issued a press release and held a teleconference to discuss these results. Investors should note that Lilly utilizes non-GAAP financial measures, such as non-GAAP net income and earnings per share, alongside GAAP figures. The company believes these non-GAAP measures offer a clearer view of ongoing operations and aid in meaningful period-over-period comparisons by excluding items that are highly variable and difficult to predict, thereby preventing distortion of reported operations.
Key Highlights
- 1Announcement of Q3 2014 and nine-month period financial results.
- 2The company held a teleconference and webcast to discuss results with analysts and media.
- 3Use of non-GAAP financial measures (e.g., non-GAAP net income and EPS) is highlighted.
- 4Lilly states non-GAAP measures help investors evaluate ongoing operations and identify operating trends.
- 5Non-GAAP measures are presented to assist in meaningful period-over-period comparisons.
- 6Management uses non-GAAP measures internally for performance evaluation and resource allocation.
- 7The information furnished is not deemed 'filed' for Section 18 purposes.
Frequently Asked Questions
This 8-K filing primarily serves to announce Eli Lilly's financial results for the third quarter and the first nine months of 2014. It also informs investors that the company provided a press release and conducted a teleconference to discuss these results.
Yes, Eli Lilly uses non-GAAP financial measures, such as non-GAAP net income and earnings per share, in addition to GAAP measures. The company states these non-GAAP measures are used to provide investors with a clearer understanding of ongoing operations and to facilitate more meaningful comparisons over time by excluding unpredictable and potentially distorting items.
The detailed financial results and related information are provided in the press release dated October 23, 2014, which is attached as Exhibit 99.1 to this 8-K filing.
Investors should consider the non-GAAP measures in conjunction with, and not as a substitute for, the financial performance measures prepared in accordance with GAAP. Lilly uses them to provide insight into operational performance and trends that might otherwise be obscured by excluded items.