Summary
Eli Lilly and Company (LLY) filed an 8-K on April 23, 2015, to report its first quarter 2015 financial results. The filing primarily serves to furnish a press release and related financial statements detailing the company's performance for the quarter ending March 30, 2015. An important aspect of the filing is the company's discussion and use of non-GAAP financial measures, such as non-GAAP net income and earnings per share. Lilly explains that these measures, which exclude certain variable and unpredictable items, are used to provide investors with a clearer view of ongoing operations and to facilitate meaningful period-over-period comparisons. Management also utilizes these non-GAAP metrics for internal performance evaluation and resource allocation.
Key Highlights
- 1The 8-K filing is primarily to announce Eli Lilly's first quarter 2015 financial results.
- 2The company issued a press release on April 23, 2015, detailing Q1 2015 earnings.
- 3A teleconference was held for analysts and media to discuss the Q1 results.
- 4Eli Lilly utilizes non-GAAP financial measures (e.g., non-GAAP net income, EPS) in its reporting.
- 5The company believes non-GAAP measures offer valuable insights into ongoing operations and aid in trend identification.
- 6Management uses non-GAAP measures for internal performance evaluation and resource allocation.
- 7The press release and financial statements are attached as Exhibit 99.1.