Business Context and Reporting Period
Company: DaVita Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: May 5, 2003
Reporting Period: Quarter ended March 31, 2003
Purpose: Disclosure of financial results via a press release (Exhibit 99.1) furnished under Regulation FD (Item 9) rather than Item 12.
Key Financial Metrics
The filing text itself does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached press release (Exhibit 99.1), which is referenced but not included in the provided text.
Non-GAAP Measures Discussed: The company utilizes the following non-GAAP measures to supplement GAAP results:
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
- Free Cash Flow
- Rolling Twelve (12) Months Operating Cash Flows
- Leverage Ratio (Debt/EBITDA)
A reconciliation of these non-GAAP measures to GAAP results is stated to be included in the attached press release.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. Investors must refer to the attached press release (Exhibit 99.1) for a comparison of current quarter results against prior periods.
Guidance, Outlook, and Risks
Forward-Looking Statements: The attached press release contains forward-looking statements regarding performance during 2003.
Risk Factors: The filing directs readers to the "Management's Discussion and Analysis" and "Risk Factors" sections of the Annual Report on Form 10-K for the fiscal year ended December 31, 2002, for a thorough discussion of factors affecting operating results. Additional details will be included in the upcoming Form 10-Q for the quarter ended March 31, 2003.
Regulatory Note: Information furnished under Item 9 is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934 and is not subject to the liabilities of that section, nor is it incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific GAAP and non-GAAP financial figures for the quarter ended March 31, 2003.
- Verify the reconciliation of non-GAAP measures (EBITDA, Free Cash Flow, Leverage Ratio) to GAAP results as described in the press release.
- Consult the Form 10-K for the fiscal year ended December 31, 2002, for detailed risk factors and historical context.
- Monitor the upcoming Form 10-Q filing for the quarter ended March 31, 2003, for audited or reviewed financial statements and expanded management commentary.