Increases 2008 Adjusted EPS Guidance to $0.64 - $0.67 from Prior Range of
$0.47 - $0.53 Reaffirms Adjusted EPS Guidance of $0.90 - $1.10 for 2009 and $1.50 - $1.70
PITTSBURGH, Oct. 30 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL) today announced its financial results for the three and nine months ended Sept. 30, 2008.
-- Adjusted diluted EPS of $0.23 and $0.52 for the three and nine months ended Sept. 30, 2008, respectively, which excludes the impact of certain purchase accounting items as well as other non-recurring items as discussed in detail below;
-- Total revenues of $1.66 billion for the three months ended Sept. 30, 2008, an increase of $1.18 billion over the same prior year period;
-- Total revenues for the current quarter includes the recognition of approximately $455.0 million of previously deferred revenue related to the sale of the company's rights to Bystolic(TM);
-- On a GAAP basis the company reported earnings per diluted share of $0.45 for the three months ended Sept. 30, 2008, and a loss per diluted share of $0.92 for the nine months ended Sept. 30, 2008.
-- Included in the GAAP results for the year-to-date period is a non-cash goodwill impairment charge of $385.0 million recorded in the first quarter related to the Specialty Segment.
"As we have reached the one year anniversary of our acquisition of
Merck KGaA's generics business, I am extremely pleased with the progress
that we continue to make in combining the strengths of three high quality
businesses, Mylan, Matrix and the former Merck Generics, into one
well-positioned and powerful global platform. Led by a robust
|SOURCE Mylan Inc.|
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