Item 7.01 Regulation FD Disclosure
As previously reported by
Adtalem is furnishing this Current Report on Form 8-K to provide historical
unaudited Consolidated Statements of Income (Loss) information, which reflects
the Financial Services segment as a discontinued operation and certain non-GAAP
earnings information and operating income for the Financial Services segment for
the previously reported fiscal years ended
The schedule in Exhibit 99.2 includes net income from continuing operations excluding special items and reconciles this non-GAAP measure to the most directly comparable GAAP measure. Management believes that the non-GAAP disclosure of net income from continuing operations excluding special items provide investors with useful supplemental information regarding the underlying business trends and performance of Adtalem's ongoing operations and is useful for period-over-period comparisons of such operations given the nature of the special items. Adtalem uses these supplemental financial measures internally in its management and budgeting process. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, Adtalem's reported results prepared in accordance with GAAP.
The schedule in Exhibit 99.3 includes operating income excluding special items
on a consolidated and segment basis and reconciles these non-GAAP measures to
the most directly comparable GAAP measures. Certain expenses previously
allocated to the Financial Services segment have been reclassified to the Home
Office and Other segment for all periods as of
The information furnished in this Item 7.01, including Exhibits 99.1, 99.2, and 99.3, shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific references in such a filing.
Item 9.01 Financial Statements and Exhibits
Exhibit Number Description 99.1 Unaudited Consolidated Statements of Income (Loss) for the fiscal years endedJune 30, 2020 andJune 30, 2021 , and quarterly periods endedSeptember 30, 2020 throughSeptember 30, 2021 . 99.2 Schedule of non-GAAP Earnings for the fiscal years endedJune 30, 2020 andJune 30, 2021 , and quarterly periods endedSeptember 30, 2020 throughSeptember 30, 2021 . 99.3 Schedule of non-GAAP Segment Operating Income for the fiscal years endedJune 30, 2020 andJune 30, 2021 , and quarterly periods endedSeptember 30, 2020 throughSeptember 30, 2021 . 104 Cover Page Interactive Data File (formatted as Inline XBRL)
© Edgar Online, source