Earnings from continuing operations before interest, taxes, depreciation and amortization (EBITDA), for the quarter and the year ended December 31, 2007 totaled $148 million and $607 million, respectively. Please see the reconciliation table at the end of this press release for the calculation of EBITDA.
2008 Financial Outlook
The Company expects adjusted earnings per fully diluted share for 2008 to be in the range of approximately $3.05 - $3.35. The adjustments are discussed in the paragraph immediately below. The Company expects total revenues for 2008 to be in the range of $2.7 - $2.8 billion, including total product sales in the range of $2.55 - $2.65 billion. On the expense side for 2008, the Company expects R&D investment of approximately $265 - $280 million, and SG&A expenses to be approximately $810 - $830 million.
The Company's adjusted earnings guidance for 2008 excludes the impact of amortization costs associated with acquired products, contributions and/or losses from the DDDI operations that the Company plans to divest and incremental depreciation related to purchase accounting. The Company's adjusted guidance also excludes the impact of any unscheduled launches resulting from patent challenges, other business development activities, and refinancing activities that may be completed after the date hereof and on or before December 31, 2008. In contrast to 2007, the Company's adjusted earnings guidance for 2008 does not add back stock compensation expense. The change in the Company's presentation of adjusted earnings results in a reduction of the estimated earnings for 2008 by approximately $0.20 per share.
The Company will host a conference call at 8:30AM Eastern time on
Thursday, February 28 to discuss results for the quarter and year ended
December 31, 2007. The number to call from within t
|SOURCE Barr Pharmaceuticals, Inc.|
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