MONTVALE, N.J., Feb. 28 /PRNewswire-FirstCall/ -- Barr Pharmaceuticals, Inc. (NYSE: BRL) today reported net earnings of $128.4 million, or $1.18 per share, for the year ended December 31, 2007 on revenues of $2.5 billion. On a non-GAAP basis, adjusted earnings per share were $3.16 for 2007. A reconciliation of GAAP-based earnings per share to adjusted earnings per share is presented in the table at the end of this press release. For the fourth quarter ended December 31, 2007, net earnings were $32.5 million, or $0.30 per share, on revenues of $668.7 million. On a non-GAAP basis, adjusted earnings per share were $0.79 for the quarter.
In the fourth quarter of calendar 2006, Barr changed its fiscal year end from June 30th to December 31st, effective December 31, 2006. In addition, on October 24, 2006, Barr acquired PLIVA d.d., a Croatian generics pharmaceutical company, for approximately $2.4 billion. As a result of these two events, the comparison of information for the year ended December 31, 2007 and the 12- month period ended December 31, 2006, which is unaudited, is not very meaningful. In this release, "2007" refers to Barr's calendar year ended December 31, 2007, and "2006" refers to the 12-month period ended December 31, 2006 and includes PLIVA's results from October 25, 2006 through December 31, 2006.
"I am pleased to report strong revenue growth across the Company in
2007, driven by proprietary and U.S. generic sales, as well as sound
results in our international markets. In addition, during the year we
invested a record $248 million in new product development, and filed a
record 30 ANDAs and three NDAs in the United States. These are exceptional
results for our Company, particularly given that significant management
|SOURCE Barr Pharmaceuticals, Inc.|
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