Such terms as net income and earnings per share (EPS) shouldn't be used to refer to pro formas.
Pro formas should be used to provide value-relevant information--they should never be used to manage investor expectations or to potentially mislead investors
These pro forma measures, which aren't audited, are typically determined through adjustments to GAAP-based earnings.
To address the concern that managers may be using pro forma earnings to manage expectations or to mislead investors, the leading securities commissions in Canada and the U.
for Income Taxes 135,987 115,484 162,557 Provision for Income Taxes (59,835) (52,341) (73,676) Net Income $ 76,152 $ 63,143 $ 88,881 Pro Forma
Unaudited Earnings Per Share of Common Stock $ .