I. Introduction
As of March 28, 2003, U.S. companies that issue an earnings release will have to comply with a myriad of new SEC disclosure requirements. First, companies will be required to furnish on Form 8-K the text of an earnings release or public announcement that discloses material nonpublic information regarding their results of operations or financial condition for a completed annual or quarterly fiscal period. Second, companies will be required to provide additional disclosure regarding any non-GAAP financial measure disclosed in the earnings release or public announcement. The SEC release adopting the new rules is available at http://www.sec.gov/ rules/final/33-8176.htm.1
Companies should establish procedures to ensure that any earnings release for the first quarter of 2003 is furnished to the SEC on Form 8-K within five business days of public dissemination. More importantly, if a company plans on hosting an earnings call (whether a webcast or conference call)
