Business Context and Reporting Period
This Form 8-K was filed by McKesson Corporation on April 30, 2004. The report serves as a Regulation FD disclosure to provide quarterly Recast Condensed Consolidated Operating Information by Business Segment for Fiscal 2003 and Fiscal 2004, which was previously released on an annual basis.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. It references the existence of quarterly recast segment data for Fiscal 2003 and Fiscal 2004, which is attached as Exhibit 99, but the numerical figures are not included in the narrative text of this report.
Material Changes and Unusual Items
The primary purpose of this filing is to correct an error in an electronic distribution made on April 29, 2004. The Company inadvertently included an Excel spreadsheet containing a column labeled "OPEN: FY05 Pro Forma Budget" that was factually incorrect, un-reviewed, and irrelevant. These numbers were placeholders and do not represent the Company's final plan.
Guidance, Outlook, and Management Commentary
- Fiscal 2005 Guidance: The Company reaffirmed its earnings per share guidance of $2.20 to $2.35 for Fiscal 2005.
- Clarification: Management stated that the erroneous "OPEN: FY05 Pro Forma Budget" data does not support or reflect the approved Fiscal 2005 plan underlying the guidance.
- Correct Data: The quarterly recast segment data for Fiscal 2003 and Fiscal 2004 included in the spreadsheet was confirmed to be correct and is now formally filed as Exhibit 99.
Investor Verification Checklist
- Verify the correct Fiscal 2005 earnings per share guidance range of $2.20 to $2.35.
- Review Exhibit 99 of this filing for the accurate quarterly recast segment data for Fiscal 2003 and Fiscal 2004.
- Ignore any previously distributed Excel spreadsheets containing the "OPEN: FY05 Pro Forma Budget" columns as they are erroneous placeholders.