SEC Staff Responds to Frequently Asked Questions Regarding the Use of Non-GAAp Financial Measures

FOR IMMEDIATE RELEASE
2003-73

Washington, D.C., June 13, 2003 -- The Securities and Exchange Commission's Division of Corporation Finance today provided its responses to 33 frequently asked questions regarding the use of non-GAAP financial measures. On Jan. 22, 2003, the SEC adopted new regulations setting out conditions under which non-GAAP financial measures could be used by public companies. See Release No. 33-8176.

The staff's responses to these frequently asked questions, intended to assist market participants in the understanding of and compliance with the new regulations, can be found at http://www.sec.gov/divisions/corpfin/faqs/nongaapfaq.htm.