Business Context and Reporting Period
Company: First Advantage Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: July 20, 2004
Reporting Period: Quarter ended June 30, 2004
Context: The filing serves to announce financial results for the quarter ended June 30, 2004, via a press release attached as Exhibit 99.1.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release containing these figures but does not reproduce the data within the 8-K body text.
Non-GAAP Measures: The company reports EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The filing defines EBITDA as net income (loss) adjusted for income tax, interest expense, and depreciation and amortization. Management states this metric is used to assess capital structure and borrowing capacity but is not a substitute for GAAP net income or cash flow measures.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. It only confirms the announcement of results for the quarter ended June 30, 2004.
Guidance, Outlook, and Risks
Management Commentary: Management emphasizes that EBITDA is not prepared in accordance with GAAP and may not be consistent with calculations by other industry peers. Investors are cautioned not to view EBITDA as an alternative to GAAP net income or cash flows from operating, investing, and financing activities.
Risks and Contingencies: The filing notes that EBITDA does not account for changes in certain assets and liabilities, nor does it reflect interest and income taxes that affect cash flows. The information is "furnished" rather than "filed" under Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other SEC filings unless explicitly stated.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and cash flow figures for the quarter ended June 30, 2004.
- Verify the reconciliation of non-GAAP EBITDA to the most directly comparable GAAP financial measures as required by Regulation G.
- Confirm whether the EBITDA calculation methodology aligns with industry standards for peer comparison.
- Check subsequent filings for any explicit incorporation of this press release by reference.