CORPORATION (OTCMKTS:CCYPQ) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure.
IBM senior executives will be meeting with investors and securities analysts over the next day, and are prepared to reiterate the 2018 operating (non-GAAP) earnings per share expectations provided in IBM’s fourth quarter 2017 earnings webcast on January18, 2018, and the company’s 2017 Form10-K filed with the SEC on February27, 2018.
The company continues to expect operating EPS to be at least $13.80 for the full year 2018, and expects to deliver between 17% and 18% of the full year expectation in the first quarter. This includes a discrete tax benefit in the first quarter, and the company expects to take actions resulting in pre-tax charges that will offset some portion of the benefit. This net benefit is reflected in the first quarter skew expectation. All of this is consistent with the expectations discussed with investors in January.
The company is planning to report its first quarter 2018 earnings results on April17, 2018.
The information in this Item 7.01 is being furnished with the Commission and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934 (the “Exchange Act”).
Presentation of Information
In an effort to provide additional and useful information regarding the company’s financial results and other financial information, as determined by generally accepted accounting principles (GAAP), these materials contain a non-GAAP financial measure on a continuing operations basis, i.e., operating earnings per share. The rationale for management’s use of this non-GAAP information is included on pages26 and 27 of the company’s 2017 Annual Report, which is Exhibit13 to the Form10-K filed with the SEC on February27, 2018. For reconciliation of this non-GAAP financial measure to GAAP, please refer to page30 of the company’s 2017 Annual Report.
Forward-Looking Statements
Certain statements contained in this Form8-K may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve a number of factors that could cause actual results to differ materially. Additional information concerning these factors is contained in the company’s filings with the U.S. Securities and Exchange Commission (SEC). Copies are available from the SEC or from the IBM web site (www.ibm.com).
IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.