8-KOther Events

Parker-Hannifin Corp 8-K Report (Oct 20, 2003)

Filed October 20, 2003For Securities:PH

Summary

This 8-K filing from Parker-Hannifin Corporation, filed on October 20, 2003, relates to a Webcast presentation held on October 15, 2003, where the company announced its earnings for the quarter ended September 30, 2003. The primary purpose of this filing is to provide revised and clarifying slides concerning segment operating margins and realignment charges incurred during the quarters ended September 30, 2003, and 2002. These revised slides are intended to offer investors a clearer and more comparable view of the company's performance by presenting segment operating margins both as reported under U.S. GAAP and as adjusted to exclude the impact of realignment charges. This adjustment allows for a more meaningful evaluation of underlying operational performance across different periods. The information is being furnished under Regulation FD to ensure broad public dissemination.

Key Highlights

  • 1Parker-Hannifin Corporation filed an 8-K on October 20, 2003, to provide supplemental information regarding its Q1 2004 earnings webcast.
  • 2The filing clarifies segment operating margins and realignment charges for the quarters ended September 30, 2003, and 2002.
  • 3Revised Webcast slides, attached as Exhibit 99.1, reconcile reported U.S. GAAP segment operating margins with adjusted margins that exclude realignment charges.
  • 4The purpose of the adjustments is to enable investors to evaluate operating margins on a comparable basis over time.
  • 5The information is provided under Regulation FD and Item 12 to ensure fair and broad disclosure to investors.
  • 6The company's Chief Financial Officer, Timothy K. Pistell, signed the report.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with revised and clarified slide information presented during Parker-Hannifin's earnings Webcast on October 15, 2003. Specifically, it offers details on segment operating margins and realignment charges for the quarters ended September 30, 2003, and 2002.

The revised slides present segment operating margins in two ways: as reported under U.S. GAAP and as adjusted to remove the effect of realignment charges. This is done to provide investors with a more meaningful and comparable view of the company's operational performance from period to period, by isolating the impact of these specific charges.

Realignment charges typically refer to costs associated with significant restructuring, reorganizations, or other significant changes within a company's operations. These are often one-time or infrequent costs that can impact reported profitability, and excluding them can help in understanding the ongoing operational profitability.

The revised Webcast slides are attached to this 8-K filing as Exhibit 99.1 and are also posted on Parker-Hannifin's investor relations Internet site at http:www.phstock.com.