Summary
Eli Lilly and Company (LLY) filed an 8-K on July 23, 2015, to report its financial results for the second quarter and the first six months of 2015. The filing includes a press release detailing these results and references a teleconference held for analysts and media. Key to this report is Lilly's use of non-GAAP financial measures, such as non-GAAP net income and earnings per share. The company explains that these adjustments exclude items like amortization of acquired intangible assets and other variable, unpredictable costs. Lilly believes these non-GAAP figures offer investors a clearer view of ongoing operations, facilitate period-over-period comparisons, and help identify underlying operating trends that GAAP measures might obscure. Management also utilizes these non-GAAP metrics for internal performance evaluation and resource allocation.
Key Highlights
- 1Eli Lilly announced its second quarter and six-month financial results for 2015 via an 8-K filing on July 23, 2015.
- 2The company held a teleconference for analysts and media to discuss the reported financial outcomes.
- 3Lilly utilizes and presents non-GAAP financial measures, including non-GAAP net income and earnings per share, in its reporting.
- 4These non-GAAP measures are adjusted to exclude items such as amortization of acquired intangible assets.
- 5Other highly variable and unpredictable items are also excluded from non-GAAP calculations.
- 6Lilly asserts that these non-GAAP measures provide investors with a better understanding of ongoing operations and facilitate trend analysis.
- 7The information provided in the 8-K, including the press release, is furnished and not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.