Third Quarter 2008 Revenue Increased 7 Percent to $3.9 Billion Third Quarter 2008 GAAP Earnings Per Share were $1.09, an Increase from
Third Quarter 2007 GAAP Earnings Per Share of $0.18 Full Year Revenue Guidance Raised from $14.6 Billion - $14.9 Billion to
$14.9 Billion - $15.2 Billion Full Year Adjusted EPS Guidance Raised from $4.25 - $4.45 to $4.45 - $4.55
THOUSAND OAKS, Calif., Oct. 22 /PRNewswire-FirstCall/ -- Amgen (Nasdaq: AMGN) reported adjusted earnings per share (EPS), excluding stock option expense and certain other expenses, of $1.23 for the third quarter of 2008, an increase of 14 percent compared to $1.08 for the third quarter of 2007. Adjusted net income, excluding stock option expense and certain other expenses, increased 11 percent to $1,308 million in the third quarter of 2008 compared to $1,181 million in the third quarter of 2007. Stock option expense on a per share basis totaled 2 cents for both the third quarter of 2008 and the third quarter of 2007.
Total revenue increased 7 percent during the third quarter of 2008 to $3,875 million versus $3,611 million in the third quarter of 2007.
Adjusted EPS and adjusted net income for the third quarter 2008 and 2007 exclude, for the applicable periods, stock option expense, certain expenses related to acquisitions, restructuring charges and certain other items. These expenses and other items are itemized on the attached reconciliation tables. Adjusted EPS including the impact of stock option expense are also itemized in the notes to the attached reconciliation tables.
Calculated in accordance with United States (U.S.) Generally Accepted
Accounting Principles (GAAP), Amgen's GAAP EPS were $1.09 in the third
quarter of 2008 compared to $0.18 in the same quarter last year. GAAP net
income was $1,158 million in the third quarter of 2008 compared to $201
million in the third quarter of 2007. GAAP reported results for the third
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