BMS » Topics » Use of Non-GAAP Financial Measures

This excerpt taken from the BMS 8-K filed Jan 28, 2010.

Use of Non-GAAP Financial Measures

 

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

 

·                  Segment operating profit as adjusted

 

·                  Segment operating profit as adjusted as a percentage of net sales

 

·                  Diluted earnings per share as adjusted

 

Each of these measures excludes from the most directly comparable GAAP measures the impact of certain items.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management as not related to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges, income, or other items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

 

This excerpt taken from the BMS 8-K filed Oct 27, 2009.

Use of Non-GAAP Financial Measures

 

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

 

·                  Segment operating profit as adjusted

 

·                  Segment operating profit as adjusted as a percentage of net sales

 

·                  Diluted earnings per share as adjusted

 

Each of these measures excludes from the most directly comparable GAAP measures the impact of certain items.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management as not related to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges, income, or other items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

 

This excerpt taken from the BMS 8-K filed Jul 17, 2009.

Use of Non-GAAP Financial Measures

 

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

 

·                  Segment operating profit as adjusted

 

·                  Segment operating profit as adjusted as a percentage of net sales

 

·                  Diluted earnings per share as adjusted

 

Each of these measures excludes from the most directly comparable GAAP measures the impact of certain items.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

 

This excerpt taken from the BMS 8-K filed Apr 28, 2009.

Use of Non-GAAP Financial Measures

 

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

 

·                  Segment operating profit as adjusted

 

·                  Segment operating profit as adjusted as a percentage of net sales

 

·                  Diluted earnings per share as adjusted

 

Each of these measures excludes from the most directly comparable GAAP measures the impact of certain items.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

 

This excerpt taken from the BMS 8-K filed Jan 29, 2008.

Use of Non-GAAP Financial Measures

 

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

 

·                  Segment operating profit as adjusted

 

·                  Segment operating profit as adjusted as a percentage of net sales

 

·                  Diluted earnings per share as adjusted

 

Each of these measures excludes from the most directly comparable GAAP measures the impact of relevant restructuring and related charges or income, and the additional income tax benefit related to a dividend from a foreign subsidiary.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of each of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

 

This excerpt taken from the BMS 8-K filed Oct 30, 2007.

Use of Non-GAAP Financial Measures

 

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

 

    Segment operating profit as adjusted

 

    Segment operating profit as adjusted as a percentage of net sales

 

    Diluted earnings per share as adjusted

 

Each of these measures excludes from the most directly comparable GAAP measures the impact of relevant restructuring and related charges or income. Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year. Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations. Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes. These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP. As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP. In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

 

This excerpt taken from the BMS 8-K filed Jul 31, 2007.

Use of Non-GAAP Financial Measures

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

·        Segment operating profit as adjusted

·        Segment operating profit as adjusted as a percentage of net sales

·        Diluted earnings per share as adjusted

Each of these measures excludes from the most directly comparable GAAP measures the impact of relevant restructuring and related charges or income.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

This excerpt taken from the BMS 8-K filed Apr 26, 2007.

Use of Non-GAAP Financial Measures

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

·        Segment operating profit as adjusted

·        Segment operating profit as adjusted as a percentage of net sales

·        Diluted earnings per share as adjusted

Each of these measures excludes from the most directly comparable GAAP measures the impact of relevant restructuring and related charges or income.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

ITEM 9.01.   FINANCIAL STATEMENTS AND EXHIBITS

(c).                               The April 26, 2007, Bemis Company, Inc. press release for the first quarter ended March 31, 2007, is furnished as Exhibit 99 to this report.




 

This excerpt taken from the BMS 8-K filed Jan 25, 2007.

Use of Non-GAAP Financial Measures

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

·        Segment operating profit as adjusted

·        Segment operating profit as adjusted as a percentage of net sales

·        Diluted earnings per share as adjusted

Each of these measures excludes from the most directly comparable GAAP measures the impact of relevant restructuring and related charges or income, purchase accounting finalization adjustments, the year-end date change for our foreign subsidiary, and additional income tax on repatriated earnings.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of each of these items on the comparability of the Company’s operations from year-to-year.  Excluding the impact of these items also enables investors to compare our underlying operational results and trends before other charges and income items that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges or income items that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

This excerpt taken from the BMS 8-K filed Oct 25, 2006.

Use of Non-GAAP Financial Measures

The press release furnished as an exhibit to this report contains certain non-GAAP financial measures, including:

·        Segment operating profit as adjusted

·        Segment operating profit as adjusted as a percentage of net sales

·        Diluted earnings per share as adjusted

Each of these measures excludes the impact of restructuring and related charges or income from the most directly comparable GAAP measure.  Management believes these adjusted measures are useful to investors because they assist an investor’s understanding of the impact of the Company’s restructuring initiative on the comparability of the Company’s operations from year-to-year.  Excluding the impact of restructuring and related charges also enables investors to compare our underlying operational results and trends before other charges that are considered by management to be non-recurring and do not relate to the Company’s core operations.  Management uses these adjusted measures to monitor and evaluate operating performance and also for internal planning purposes.  These measures are subject to certain limitations because they do not reflect all charges that were actually recognized by the Company in accordance with GAAP.  As a result, investors should consider these non-GAAP measures in addition to, and not as a substitute for, or superior to, financial performance measures presented in accordance with GAAP.  In addition, these adjusted measures may not be calculated in the same manner as adjusted measures presented by other companies.

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