Edgar Filing: GENENTECH INC

Genentech, Inc. - Form 8-K (Period ended July 7, 2004)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 7, 2004

GENENTECH, INC.
(Exact name of Registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

1-9813
(Commission
File Number)

94-2347624
(I.R.S. Employer
Identification No.)

1 DNA Way
South San Francisco, California 94080-4990
(Address of principal executive offices and Zip Code)

Registrant's telephone number, including area code: (650) 225-1000

ITEM 5.

OTHER EVENTS

On July 7, 2004, Genentech, Inc., a Delaware corporation, issued a press release announcing earnings for the quarter ended June 30, 2004. A copy of the earnings press release is filed as Exhibit 99.1 to this report.

The non-GAAP financial measures used within our earnings press release include net income and earnings per share (or EPS) for the three and six months ended June 30, 2004 and 2003. These non-GAAP financial measures exclude recurring charges related to the redemption of our callable putable common stock on June 30, 1999 (the "Redemption") and the effects of push-down accounting, litigation-related special charges, and their related tax effects.

Each non-GAAP financial measure presented in the earnings press release is included because our management uses this information to monitor and evaluate Genentech's operating results and trends on an on-going basis. Our management believes the non-GAAP information is also useful for investors because the amounts relating to the Redemption and push-down accounting and the litigation-related special items that are excluded were the result of transactions that are unusual due to their nature, size or infrequency. Consequently, excluding those items from our operating results provides users of the financial statements an important insight into our operating results and related trends that affect our business. In addition, our management uses non-GAAP financial information and measures internally for operating, budgeting and financial planning purposes.

ITEM 7.

FINANCIAL STATEMENTS AND EXHIBITS

99.1 Earnings Press Release of Genentech, Inc. dated July 7, 2004.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		GENENTECH, INC.
Date:	July 7, 2004	/s/ARTHUR D. LEVINSON

		Arthur D. Levinson, Ph.D. Chairman and Chief Executive Officer


Date:	July 7, 2004	/s/LOUIS J. LAVIGNE, JR.

		Louis J. Lavigne, Jr. Executive Vice President and Chief Financial Officer


Date:	July 7, 2004	/s/JOHN M. WHITING

		John M. Whiting Vice President, Controller and Chief Accounting Officer

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EXHIBIT INDEX

Exhibit No.		Description

99.1		Earnings Press Release of Genentech, Inc. dated July 7, 2004.

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