CAPLA: Efforts to grow sales in CAPLA markets at an even faster pace and to boost their overall contribution to 25% of total Company sales by 2010 led to reported and organic third quarter sales increases of 21.1% and 12.1%, respectively, with the Epichem acquisition (3.4 percentage points) and currency (5.6 percentage points) explaining the difference. Sales in these markets provided approximately 20.0% of total Q3 2007 sales, a one-percentage point improvement from the Q2 2007 level. Continued emphasis in the developing markets of India, China and Brazil provided reported growth ranging from 25% to 60% in these focus markets for the third consecutive quarter.
A reconciliation of currency adjusted proforma to reported net income and diluted earnings per share can be found in tabular form in the Supplemental Financial Information section on page 11.
Reported diluted EPS for 2007's third quarter of $.54, which includes a
$.06 benefit from currency exchange rates, increased 5.9% over the $.51
reported for 2006's third quarter. This $.54 reported diluted EPS for Q3
2007 also includes a $.03 tax charge for the previously communicated
revaluation of deferred tax assets and liabilities to reflect tax rate
changes effective in 2008. The charge is approximately $.01 per share below
prior expectations due to favorable tax rate changes enacted in the U.K.
during Q3 2007 and applicable in 20
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