World Fuel Services: Non-Gaap Financial Measures
The following excerpt is from the company's SEC filing
This press release includes selected financial information that has not
been prepared in accordance with accounting principles generally
accepted in the United States (“GAAP”). Specifically, we have used
non-GAAP accretion to earnings per share, which excludes amortization of
acquired intangible assets, primarily because we do not believe it is
reflective of the company’s core operating results. We believe that this
non-GAAP financial measure, when considered in conjunction with our
financial information prepared in accordance with GAAP, is useful for
to evaluate our core operating results and trends.
Non-GAAP financial measures should not be considered in isolation from,
or as a substitute for, financial information prepared in accordance
with GAAP. In addition, our presentation of non-GAAP accretion may not
be comparable to the presentation of such metric by other companies.
Investors are encouraged to review the reconciliation of this non-GAAP
measure to its most directly comparable GAAP financial measure contained
in this press release.
Headquartered in Miami, Florida, World Fuel Services is a leading global
fuel logistics company, principally engaged in the marketing, sale and
distribution of aviation, marine and land fuel and related products and
services on a worldwide basis. World Fuel Services sells fuel and
delivers services to its clients at more than 8,000 locations in more
than 200 countries and territories worldwide.
The company's global team of market makers provides deep domain
expertise in all aspects of aviation, marine and land fuel management.
Aviation customers include commercial airlines, cargo carriers, private
aircraft and fixed base operators (FBOs), as well as the United States
and foreign governments. World Fuel Services' marine customers include
international container and tanker fleets, cruise lines and time-charter
operators, as well as the United States and foreign governments. Land
customers include petroleum distributors, retail petroleum operators,
and industrial, commercial, and government accounts. The company also
offers transaction management services which consist of card payment
solutions and merchant processing services to customers in the aviation,
marine and land transportation industries. For more information, call
305-428-8000 or visit www.wfscorp.com.
CONTACT:World Fuel Services CorporationIra M. Birns, 305-428-8000Executive
Vice President & Chief Financial Officer
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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