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Shire plc: Strong Third Quarter and Increased Non GAAP Earnings Expectations
Date:10/24/2013

legal costs ($18.0 million), and tax effect of adjustments; and
  • Depreciation reclassification: Depreciation of $93.3 million included in Cost of product sales, R&D costs and SG&A costs for US GAAP separately disclosed for the presentation of Non GAAP earnings.


  • Unaudited results for the nine months to September 30, 2012

    Non GAAP reconciliation

    9 months to Non September 30, 2012 US GAAP Adjustments GAAP (a) (b) (c) (d) (e) $M $M $M $M $M $M $M Total revenues 3,480.0 - - - - - 3,480.0 Costs and expenses: Cost of product sales 478.8 - - - - (23.6) 455.2 R&D 683.6 (27.0) (23.0) - - (18.3) 615.3 SG&A 1,448.4 (146.6) - - (40.4) (42.3) 1,219.1 Gain on sale of product rights (16.5) - - 16.5 - - - Integration and acquisition costs 15.1 - (15.1) - - - - Depreciation - - - - - 84.2 84.2 Total operating expenses 2,609.4 (173.6) (38.1) 16.5 (40.4) - 2,373.8 Operating income 870.6 173.6 38.1 (16.5) 40.4 - 1,106.2 Interest income 2.3 - - - - - 2.3 Interest expense (29.0) - - - - - (29.0) Other income, net 3.6 - - - - - 3.6 Total other expense, net (23.1) - - - - - (23.1) Income before income taxes and equity in earnings of equity method investees 847.5 173.6 38.1 (16.5) 40.4 - 1,083.1 Income taxes (144.6) (42.0) (10.1) - (14.5) - (211.2) Equity in earnings of equity method investees, net of tax 0.5 - - - - - 0.5 Net income 703.4 131.6 28.0 (16.5) 25.9 - 872.4 Impact of convertible debt, net of tax 23.7 - - - - - 23.7 Numerator for diluted EPS 727.1 131.6 28.0 (16.5) 25.9 - 896.1 Weighted average number of shares (millions) - diluted 594.0 - - - - - 594.0 Diluted earnings per ADS 367.2c 66.6c 14.1c (8.4c) 13.2c - 452.7c

    The following items are included in Adjustments:

    1. Amortization and asset impairments: Impairment of IPR&D intangible assets for RESOLOR ($27.0 million), amortization of intangible assets relating to intellectual property rights acquired ($146
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    SOURCE Shire plc
    Copyright©2012 PR Newswire.
    All rights reserved

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