CDW Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by CDW Corporation on December 9, 2013. The filing serves as a Regulation FD disclosure regarding a presentation by Thomas E. Richards, Chairman and CEO, at the Raymond James 2013 Systems, Semiconductors, Software and Supply Chain Conference in New York City.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It notes that the accompanying presentation materials (Exhibit 99.1) contain financial information not prepared in accordance with GAAP. The company states these non-GAAP measures are intended to help investors understand operating performance, cash flows, and the ability to meet debt service, capital expenditures, and working capital requirements. Reconciliations to GAAP measures are available on the company's Investor Relations website.
Material Changes
No material changes to financial results or operations are reported in the text of this filing. The document focuses solely on the disclosure of the conference presentation and the inclusion of forward-looking statements.
Guidance, Outlook, and Risks
The filing contains extensive forward-looking statements regarding future financial performance. Management highlights several risks and uncertainties that could cause actual results to differ materially from expectations, including:
- Substantial indebtedness and restrictions on operations and liquidity.
- Changes in economic conditions and decreases in customer technology spending.
- Relationships with vendor partners and product availability.
- Substantial competition and potential loss of market share.
- Data security breaches and IT system failures.
- Compliance with public segment contracts and applicable laws.
- Loss of key personnel and supply chain interruptions.
- Exposure to accounts receivable and inventory risks.
The company explicitly states it undertakes no obligation to update or revise these forward-looking statements.
Investor Verification Checklist
- Review Exhibit 99.1 (Conference Presentation) for specific non-GAAP financial metrics and guidance.
- Access the reconciliation schedules on the CDW Investor Relations website to compare non-GAAP measures with GAAP results.
- Verify the company's current debt levels and liquidity position in the most recent 10-K or 10-Q filings, as this 8-K only references indebtedness as a risk factor.
- Monitor updates on vendor relationships and supply chain stability given the cited risks.