8-KEarnings & ResultsExhibits & Filings

SLB LIMITED/NV 8-K Report, Financial Results (Apr 18, 2008)

Filed April 18, 2008For Securities:SLB

Summary

SLB LIMITED/NV (SLB) filed an 8-K on April 18, 2008, to report its first-quarter 2008 financial and operational results. The filing primarily references a press release and supplemental information, both dated April 18, 2008, which contain detailed financial results. Notably, these documents include both GAAP-based figures and several non-GAAP financial measures that management utilizes for performance evaluation. Investors should pay close attention to the company's definition and use of non-GAAP measures such as 'net debt' and various 'income from continuing operations before charges and credits' metrics. SLB's management believes these non-GAAP measures offer valuable insights into operational trends and the company's indebtedness by providing a clearer view of core performance, adjusted for specific charges or credits. The company emphasizes that these non-GAAP figures should be considered alongside, not as a replacement for, standard GAAP financial reporting.

Key Highlights

  • 1SLB reported its First Quarter 2008 results on April 18, 2008.
  • 2The company furnished a press release (Exhibit 99.1) and supplemental information (Exhibit 99.2) detailing these results.
  • 3The filing includes both GAAP and non-GAAP financial measures.
  • 4Key non-GAAP measures highlighted include 'net debt' and various 'income from continuing operations before charges and credits' metrics.
  • 5Management uses net debt (gross debt less cash and investments) to provide insight into indebtedness.
  • 6Non-GAAP income measures are used to evaluate operations period-over-period and identify operating trends.
  • 7SLB stresses that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP measures.

Frequently Asked Questions

This 8-K filing serves to report SLB's First Quarter 2008 financial results and related information. It primarily references an accompanying press release and supplemental documents that contain the detailed financial figures.

The key non-GAAP measures reported include 'net debt' (defined as gross debt less cash, short-term investments, and fixed income investments held to maturity) and various metrics related to 'income from continuing operations before charges and credits' and their related per-share and return-on-sales figures, as well as the effective tax rate before these items.

SLB's management believes that these non-GAAP measures provide useful information for investors. Net debt offers insight into the company's indebtedness by reflecting usable cash and investments. The income measures help management and investors to more effectively evaluate operations period-over-period and identify operating trends that might be obscured by specific charges or credits.

SLB explicitly states that these non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, measures prepared in accordance with GAAP, such as total debt, net income, or cash flows. Investors should review the full financial statements and other SEC filings for a comprehensive understanding.