Matrix reported third-party revenues of $93.5 million for the three months ended Dec. 31, 2008, compared to $92.9 million for the same prior year period. The impact of higher revenues primarily from Matrix's finished dosage form ("FDF") antiretroviral franchise, which was launched in late calendar year 2007, was offset by the negative impact of foreign currency translation.
Gross profit for the three months ended Dec. 31, 2008, was $394.7 million and gross margins were 32.8%. Excluding certain purchase accounting items and non-cash impairment charges, gross margins would have been 44.9%. Gross margins in the same prior year period, also adjusted to exclude certain purchase accounting items, would have been 41.0%. This increase was due primarily to a more favorable product mix, including the impact of new product launches and stronger fentanyl sales.
Gross margins in the current quarter were negatively impacted by certain purchase accounting items of approximately $82.0 million, which consisted primarily of amortization related to purchased intangible assets and the amortization of the inventory step-up associated with the acquisition of the former Merck Generics business. Additionally, included in gross margin in the current quarter was approximately $63.6 million of non-cash impairment charges primarily related to certain non-core, insignificant, third-party manufactured products.
The company reported earnings from operations of $34.6 million for the three months ended Dec. 31, 2008, compared to a loss from operations of $1.27 billion in the same prior year period, which included, a
|SOURCE Mylan Inc.|
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