Summary
SLB Limited/NV (SLB) filed an 8-K on October 23, 2009, to report on its third-quarter 2009 financial results. The filing includes a press release and supplemental information, which are available on the company's investor relations website. Investors should note that SLB is presenting both GAAP and non-GAAP financial measures. The non-GAAP measures include Net Debt (defined as gross debt minus cash and certain investments), and various income and return on sales metrics that exclude specific charges. Management believes these non-GAAP measures offer a clearer view of operational performance and trends by removing one-time or unusual items, allowing for better period-over-period comparison. However, investors are reminded to consider these non-GAAP figures alongside their GAAP equivalents, as they are not substitutes for standard financial reporting.
Key Highlights
- 1SLB announced its third-quarter 2009 financial results on October 23, 2009, via an 8-K filing.
- 2The filing includes a press release (Exhibit 99.1) and supplemental financial information (Exhibit 99.2) for Q3 2009.
- 3Both GAAP and non-GAAP financial measures are provided to investors.
- 4Key non-GAAP measures discussed include Net Debt, which management uses to assess the company's indebtedness.
- 5Other non-GAAP metrics provided are income and return on sales figures that exclude specific charges, intended to highlight operational trends.
- 6Management believes these non-GAAP measures aid in evaluating period-over-period performance.
- 7Investors are advised to review these non-GAAP measures in conjunction with, not as a replacement for, GAAP financial statements.