Summary
This 8-K/A filing from Visa Inc. serves as an amendment to a previous report filed on April 28, 2008. The primary purpose of this amendment is to correct several typographical errors identified in the "Press Release" (Exhibit 99.1) and the accompanying "Presentation" (Exhibit 99.2) regarding financial results for the six-month period ended March 31, 2007. These corrections primarily affect the reconciliation of non-GAAP adjusted operating income and net income, with the reported pro forma net income for the six months ended March 31, 2007, being significantly reduced from the initially stated figures. Investors should note that while this filing corrects previously reported figures, it does not introduce new financial information or strategic updates. The corrections pertain to the calculation and presentation of adjusted financial metrics, specifically impacting pro forma net income and related tax expenses for the prior year's comparable period. The company clarifies that the actual reported net income in the consolidated statements for the three and six months ended March 31, 2008, were correct as initially presented.
Key Highlights
- 1Amendment to a prior 8-K filing dated April 28, 2008.
- 2The filing corrects typographical errors in the Press Release and Presentation exhibits.
- 3Corrections specifically relate to the "Reconciliation of Non-GAAP Adjusted Operating Income and Net Income" and "Adjusted Operating Income and Net Income" disclosures.
- 4Significant revisions to pro forma net income figures for the six months ended March 31, 2007, are detailed.
- 5Pro forma net income for the six months ended March 31, 2007, was revised downwards from $1,191 million to $495 million.
- 6Other pro forma adjusted income and tax expense figures for the same period were also corrected.
- 7The company states that the consolidated statements of operations for the three and six months ended March 31, 2008, were correctly reported in the initial filing.