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Industrial Development Board ("PIDA").
(5) To reflect the tax effect of pre-tax adjustments at the applicable
tax rates and certain other tax adjustments primarily related to
changes in valuation allowances and other changes in tax assets and
liabilities.
(6) To exclude the U.S. Department of Defense ("DoD") Tricare program
reversal as a result of the U.S. Court of Appeals September 2006
ruling.
(7) To exclude charges associated with the settlement of the PROVIGIL
patent litigation.
(8) Amounts shown no longer exclude the impact of Financial Accounting
Standards Board Statement No. 123(R) "Share Based Payment" ("SFAS
123(R)"). The earnings press release issued on November 2, 2006
reflected adjustments of $3.4 million in each of Research and
development and Selling, general and administrative expenses and $2.8
million in Income tax expense related to SFAS 123(R).
CEPHALON, INC. AND SUBSIDIARIES
Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income
(Unaudited)
Nine Months Ended
September 30,
2007 2006
GAAP NET INCOME (LOSS) $(235,886) $149,725
Sales adjustments - (13,273)(7)
Cost of sales adjustments 64,236 (1) 69,375 (1)
Research and development adjustments 41,500 (2) 45,000 (2) (11)
Selling, general and administrative
adjustments - 9,987 (8) (11)
Settlement reserve 425,000 (3) -
Impairment charge
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