Summary
O'Reilly Automotive, Inc. (ORLY) filed an 8-K on May 1, 2009, primarily to correct a previously issued press release regarding its first-quarter 2009 financial results. The company is clarifying specific sales per square foot metrics for both the O'Reilly Brand and the CSK Brand. While the initial release reported $49.92 and $47.05 respectively, the corrected figures are $52.15 for the O'Reilly Brand and $44.80 for the CSK Brand for the three months ended March 31, 2009. Investors should note that O'Reilly does not plan to issue a revised press release to reflect these corrections, indicating the company considers this a minor adjustment. The filing also serves to attach the original press release as an exhibit. Importantly, the information contained in this filing, including the corrected figures, is not being deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, meaning it is not subject to the liabilities of that section and will not be incorporated by reference into future filings.
Key Highlights
- 1Correction of Q1 2009 Sales Per Square Foot Metrics: O'Reilly reported revised sales per weighted-average square foot for the O'Reilly Brand ($52.15) and the CSK Brand ($44.80) for the first quarter of 2009, correcting prior misstatements.
- 2No Revised Press Release Issued: The company stated it does not intend to issue a revised press release, suggesting the corrections are not material enough to warrant a new announcement.
- 3Q1 2009 Results are the focus: The filing pertains to the financial results of the quarter ending March 31, 2009.
- 4Filing Type: This is a Current Report on Form 8-K, signaling an important event or change for the company.
- 5Exhibit Attached: The press release dated April 29, 2009, containing the results and corrections, is included as Exhibit 99.1.
- 6Disclaimer on 'Filed' Information: The report explicitly states that the information provided will not be deemed 'filed' under Section 18 of the Securities Exchange Act of 1934.