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Survey Results: Earnings Releases and Earnings Calls

1. Regarding the archiving of earnings calls on our corporate web site:
  Answer Responses Percent  
We archive them for one quarter 11 31.4%
We archive them for six months 1 2.9%
We archive them for between 6 and 12 months 2 5.7%
We archive them for 12 months 14 40.0%
We archive them for over one year 4 11.4%
We don’t archive our earnings calls 3 8.6%
2. When we make/provide our earnings calls and related materials timely by a broadly available webcast and/or teleconference:
  Answer Responses Percent  
We always file (or ’furnish’) the transcript and related materials on a Form 8-K 5 13.5%
We sometimes file (or ’furnish’) the transcript and related materials on a Form 8-K 1 2.7%
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) 31 83.8%
3. During the past few years:
  Answer Responses Percent  
We have changed our earnings release practices, so that such releases coincide with our 10-Q filings 10 27.8%
We have kept our earnings release practices the same, and they get released a few weeks before our 10-Q filings 8 22.2%
We have kept our earnings release practices the same, and they get released a few days before our 10-Q filings 6 16.7%
We have changed our earnings release practices, so that they get released closer to the time of our 10-Q filings 3 8.3%
Our earnings releases have always been released at the same time as the 10-Q filings 9 25.0%
We decided to no longer provide earnings releases at all 0 0.0%
4. In the near future:
  Answer Responses Percent  
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) 0 0.0%
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) 3 10.0%
We don’t need to change our earnings release practices because we recently did so 13 43.3%
We are comfortable with our earnings releases being issued before our 10-Q filings and don’t need to review those practices 14 46.7%
We already no longer provide earnings releases at all 0 0.0%
5. We issue our earnings releases:
  Answer Responses Percent  
Immediately before the start of the earnings calls 6 16.7%
Two hours before start of the earnings calls 15 41.7%
More than two hours before the start of the earnings calls 15 41.7%
During or immediately after earnings calls 0 0.0%
After, but within four business days of the earnings calls 0 0.0%
6. We disclose earnings guidance:
  Answer Responses Percent  
In the text of the earnings release 8 22.9%
During the earnings call, but not in the text of the earnings release 6 17.1%
On a Form 8-K filing, but not in the text of the earnings release 0 0.0%
In the text of the earnings release as well as during the earnings call 8 22.9%
On a Form 8-K filing and in the text of the earnings release 1 2.9%
During the earnings call, on a Form 8-K filing and in the text of the earnings release 6 17.1%
We do not give earnings guidance 6 17.1%
7. We provide archives of our earnings calls (eg. calling them ’podcasts’; here is an example: http://www.investor.jnj.com/webcasts-presentations.cfm):
  Answer Responses Percent  
On our website only 27 75.0%
On iTunes only 0 0.0%
On both our website and iTunes 0 0.0%
We do not provide audio archives of our earnings calls 9 25.0%