Summary
Norfolk Southern Corporation (NSC) filed an 8-K on April 21, 2004, to report its first quarter results for 2004. The filing primarily serves to attach a press release detailing these results. A key aspect of the disclosure is the presentation of a non-GAAP financial measure, which excludes the cumulative effect of accounting changes and a gain from discontinued operations from the net income. Management believes this adjusted figure provides a more indicative view of operating performance for comparative purposes, both internally and against other companies.
Key Highlights
- 1NSC filed an 8-K on April 21, 2004, to announce its first quarter 2004 financial results.
- 2The report includes a press release detailing the company's Q1 2004 performance.
- 3NSC is presenting a non-GAAP financial measure for Q1 2004 results.
- 4The non-GAAP measure excludes the cumulative effect of accounting changes and a gain from discontinued operations.
- 5Management believes this non-GAAP measure is more indicative of ongoing operating results.
- 6This adjusted metric is intended for comparison to current/future periods and other companies.
- 7The company plans to use this non-GAAP measure during its analysts' meeting and for future comparisons.