Business Context and Reporting Period
Company: Fresenius Medical Care AG & Co. KGaA
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: May 2, 2007
Reporting Period: First Quarter 2007
This filing serves as a cover document announcing the release of the Company's first-quarter 2007 earnings results via an Investor News release (Exhibit 99.1). The Company is a partnership limited by shares headquartered in Bad Homburg, Germany.
Key Financial Metrics
The provided text does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The filing explicitly states that these results are detailed in the attached Investor News (Exhibit 99.1).
The Company utilizes the following non-GAAP financial measures to supplement GAAP reporting:
- EBITDA: Operating income excluding interest, taxes, depreciation, and amortization.
- Adjusted Operating Income: Operating income excluding one-time costs.
- Free Cash Flow.
Reconciliations between these non-GAAP measures and the most comparable GAAP measures are included in the attached Investor News and the Cash Flow Statement.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. Investors must refer to the attached Investor News for comparative analysis.
Guidance, Outlook, and Risks
Management Commentary: Management states that the inclusion of non-GAAP measures is intended to enhance the user's understanding of current financial performance and future prospects. They assert that these measures provide consistency and comparability with prior periods where such metrics were reported.
Regulatory Note: The Company emphasizes that non-GAAP measures should not be used as a substitute for or considered superior to GAAP financial measures.
Legal Status of Exhibit: The attached Investor News (Exhibit 99.1) is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and is not subject to the liabilities of that section. It shall not be incorporated by reference in any other filing.
Investor Verification Checklist
- Verify the specific Q1 2007 revenue, net income, and EBITDA figures in the attached Investor News (Exhibit 99.1), as they are absent from this cover letter.
- Review the reconciliation tables in the attached exhibit to understand the adjustments made to derive non-GAAP metrics from GAAP results.
- Confirm the impact of any "one-time costs" excluded from adjusted operating income.
- Check the Cash Flow Statement within the exhibit for the specific Free Cash Flow calculation.