EBITDA was $1.12 billion for 2010, and $947.9 million for 2009. After adjusting for certain items as further discussed below, adjusted EBITDA was $1.40 billion for the current year, versus $1.25 billion for the prior year.
Cash provided by operations was $931.4 million for the year ended December 31, 2010. Contributing to the current year cash from operations are certain significant items that resulted in a net increase in cash provided by operating activities of approximately $150 million. Favorable items included the receipt of an income tax refund in the first quarter, cash received for deferred revenue and lower income taxes paid as a result of anticipated tax benefits on the indemnified litigation. These favorable items were partially offset by payments made during the year with respect to the Company's AWP litigation settlements. For 2011, the potential reduction of deferred revenue, the timing of payments of litigation settlements, income taxes and amounts due to Merck KGaA related to the anticipated tax benefits on the indemnified litigation may lead to a reduction of $250 million or more in cash flows from operations as compared to 2010.
2011 Guidance MetricsThe Company provided the following financial guidance for 2011 on an adjusted basis, along with the significant exchange rates used in preparing the guidance, which are shown below: (in millions, except EPS, %'s and exchange rates)Total Revenue$6,100 - $6,400Gross Profit Margin47% - 49%SG&A as % of Total Revenue18% - 20%R&D as % of Total Revenue5% - 6%EBITDA$1,550 - $1,750Net Income$840 - $940Diluted EPS$1.90
|SOURCE Mylan Inc.|
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