Survey Results: Earnings Releases and Earnings Calls
Here are the results from a recent survey on earnings releases and earnings calls:
1. Regarding the archiving of earnings calls on our corporate web site:
- We archive them for one quarter - 30.8%
- We archive them for six months - 1.5%
- We archive them for between 6 and 12 months - 6.2%
- We archive them for 12 months - 41.5%
- We archive them for over one year - 7.7%
- We don’t archive our earnings calls - 12.3%
2. When we make/provide our earnings calls and related materials timely by a broadly available webcast and/or teleconference:
- We always file (or “furnish”) the transcript and related materials on a Form 8-K - 5.8%
- We sometimes file (or “furnish”) the transcript and related materials on a Form 8-K - 4.4%
- We never file (or “furnish”) a transcript and related materials on a Form 8-K (unless material information was disclosed during the earnings call that was not disclosed in the earnings release) - 89.9%
3. During the past few years:
- We have changed our earnings release practices, so that such releases coincide with our 10-Q filings - 12.9%
- We have kept our earnings release practices the same, and they get released a few weeks before our 10-Q filings - 40.0%
- We have kept our earnings release practices the same, and they get released a few days before our 10-Q filings - 24.3%
- We have changed our earnings release practices, so that they get released closer to the time of our 10-Q filings - 14.3%
- Our earnings releases have always been released at the same time as the 10-Q filings - 8.6%
- We decided to no longer provide earnings releases at all - 0.0%
4. In the near future:
- We definitely intend to revise the timing of our earnings releases so that they coincide with our 10-Q filings (or no longer provide earnings releases at all) - 3.2%
- We might revise the timing of our earnings releases so that they coincide with our 10-Q filings (or no longer provide earnings releases at all) - 11.1%
- We don’t need to change our earnings release practices because we recently did so - 23.8%
- We are comfortable with our earnings releases being issued before our 10-Q filings and don’t need to review those practices - 61.9%
- We already no longer provide earnings releases at all - 0.0%
5. We issue our earnings releases:
- Immediately before the start of the earnings calls - 23.2%
- Two hours before start of the earnings calls - 37.7%
- More than two hours before the start of the earnings calls - 37.7%
- During or immediately after earnings calls - 1.5%
- After, but within four business days of the earnings calls - 0.0%
6. We disclose earnings guidance:
- In the text of the earnings release - 16.9%
- During the earnings call, but not in the text of the earnings release - 8.5%
- On a Form 8-K filing, but not in the text of the earnings release - 4.2%
- In the text of the earnings release as well as during the earnings call - 31.0%
- On a Form 8-K filing and in the text of the earnings release - 2.8%
- During the earnings call, on a Form 8-K filing and in the text of the earnings release - 14.1%
- We do not give earnings guidance - 22.5%
7. We provide archives of our earnings calls (eg. calling them “podcasts”; here is an example):
- On our website only - 85.3%
- On iTunes only - 0.0%
- On both our website and iTunes - 1.5%
- We do not provide audio archives of our earnings calls - 13.2%
New Survey: Lead/Presiding Directors
Please take a moment to take part in our new Quick Survey on Lead/Presiding Directors, which asks these queries:
- Does your board have a lead or presiding director?
- What is the term of the lead/presiding director?
- Are there "term limits" for the lead/presiding director?
- What are the responsibilities of the lead/presiding director?
- Does the lead/presiding director receive extra compensation for these additional responsibilities?
SEC Staff Adds a Few More Auditor Independence FAQs
The SEC's Office of the Chief Accountant has added a few more auditor independence FAQs (look for the ones marked with a "2007" date). The last update of these FAQs was in 2004.
Early Bird Extended One More Week: 3rd Edition of Romeo & Dye Section 16 Treatise
Peter Romeo and Alan Dye are hard at work updating their two-volume Section 16 Treatise. The Treatise is the definitive work in this area with thousands of pages of reference material.
Order your set by August 15th to receive a pre-publication discount now - you can order online or by fax/mail with this order form. The Treatise will be completed and delivered to you in the Fall.
- Broc Romanek
Posted by broc at 06:16 AM