Navigation Links
Warner Chilcott Reports Operating Results for the Quarter and Year ended December 31, 2007
Date:2/29/2008

Continued year over year growth driven by Loestrin 24 Fe and Taclonex

ST. DAVID'S, Bermuda, Feb. 29 /PRNewswire-FirstCall/ -- Warner Chilcott Limited (Nasdaq: WCRX) today announced its results for the quarter and year ended December 31, 2007. Revenue in the quarter ended December 31, 2007 totaled $227.7 million, an increase of 10.3%, over the prior year quarter. Revenue for the year ended December 31, 2007 totaled $899.6 million, an increase of 19.2% over the prior year. The primary drivers of the increase in revenue for both periods were the net sales of two products, LOESTRIN 24 FE and TACLONEX, which together contributed $27.6 million and $171.8 million of revenue growth in the quarter and year ended December 31, 2007, respectively, compared to the prior year periods.

The Company reported net income of $19.7 million ($0.08 per diluted share) in the quarter ended December 31, 2007, compared with a net loss of $8.5 million ($.03 per diluted share) in the prior year quarter. Cash net income ("CNI") in the quarter ended December 31, 2007 was $73.9 million. Reported net income was $28.9 million ($0.12 per diluted share) in the year ended December 31, 2007.

References in this release to "cash net income" or "CNI" mean the Company's net income/(loss) adjusted for the after-tax effects of two non-cash items: amortization of intangible assets and amortization (or write-off) of deferred loan costs related to the Company's debt. Reconciliations from the Company's reported results in accordance with US GAAP to cash net income and to adjusted cash net income for all periods are presented in the table at the end of this press release.

Revenue

Revenue in the quarter ended December 31, 2007 was $227.7 million, an incrzation ("EBITDA") taking into account certain charges that were taken during the quarter and years ended December 31, 2007 and 2006. The computation of adjusted EBITDA is based on the definition of EBITDA contained in the indenture governing the Company's Notes.

WARNER CHILCOTT LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands of U.S. dollars, except per share amounts)

(Unaudited)

Quarter Ended Year Ended

Dec-31-07 Dec-31-06 Dec-31-07 Dec-31-06

REVENUE:

Product net sales $224,567 $203,844 $888,192 $751,943

Other revenue 3,136 2,514 11,369 2,514

Total revenue 227,703 206,358 899,561 754,457

COSTS & EXPENSES:

Cost of sales (excludes

amortization) 43,607 43,546 185,990 151,750

Selling, general and

administrative 57,014 54,959 265,822 253,937

Research and development 11,747 7,367 54,510 26,818

Amortization of intangible

assets 56,169 68,300 228,330 253,425

Interest (income) (878) (2,175) (4,806) (4,681)

Interest expense 28,162 62,389 122,424 211,675

Accretion on preferred stock

of subsidiary - - 26,190

INCOME / (LOSS) BEFORE TAXES 31,882 (28,028) 47,291 (164,657)

Provision / (benefit) for

income taxes 12,195 (19,508) 18,416 (11,147)

NET INCOME / (LOSS) 19,687 (8,520) 28,875 (153,510)

Preferential distribution to

Class L common shareholders (a) (a) (a) 65,112 (a)

Net income / (loss)

attributable to Class A

common shareholders $19,687 $(8,520) $28,875 $(218,622)

Earnings (Loss) per share:

Class A - Basic $0.08 $(0.03) $0.12 $(1.63)

Class A - Diluted $0.08 $(0.03) $0.12 $(1.63)

Class L - Basic (b) (a) (a) (a) $6.33 (a)

Class L - Diluted (b) (a) (a) (a) $6.33 (a)

RECONCILIATIONS:

Net income / (loss) $19,687 $(8,520) $28,875 $(153,510)

+ Amortization of intangible

assets, net of tax 51,251 63,053 208,583 232,832

+ Amortization of deferred

loan costs, net of tax 2,989 7,966 12,635 24,559

Cash net income $73,927 $62,499 $250,093 $103,881

Non-recurring, one-time

charges included above (net

of tax):

+ Accretion on preferred

stock of subsidiary - - - 26,190

+ Sponsors' management fee

buyout in SG&A - - - 27,423

+ Non-cash share-based

compensation - - - 14,586

+ Interest premium on

prepayment of Notes - 11,944 - 11,944

+ Expenses related to

litigation settlements - - 25,970 -

ADJUSTED CASH NET INCOME $73,927 $74,443 $276,063 $184,024

(a) All outstanding Class L common shares were converted into Class A

common shares in connection with the Company's IPO.

(b) The calculation of earnings per share with respect to the Class L

common shares has been calculated through September 30, 2006,

as there were no Class L common shares outstanding during the fourth

quarter of 2006 or during the year ended December 31, 2007.

WARNER CHILCOTT LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

(Unaudited)

As of As of

December 31, December 31,

2007 2006

ASSETS

Current assets:

Cash & cash equivalents $30,776 $84,464

Accounts receivable, net 65,774 74,287

Inventories 54,031 66,376

Prepaid expenses & other current assets 65,735 70,678

Total current assets 216,316 295,805

Other assets:

Property, plant and equipment, net 57,453 46,035

Intangible assets, net 1,329,427 1,533,757

Goodwill 1,250,324 1,241,452

Other non-current assets 31,454 45,496

TOTAL ASSETS $2,884,974 $3,162,545

LIABILITIES

Current liabilities:

Accounts payable $17,883 $23,094

Accrued expenses & other current

liabilities 196,362 136,101

Current portion of long-term debt 8,284 11,790

Total current liabilities 222,529 170,985

Other liabilities:

Long-term debt, excluding current

portion 1,191,955 1,538,960

Other non-current liabilities 116,070 124,368

Total liabilities 1,530,554 1,834,313

SHAREHOLDERS' EQUITY 1,354,420 1,328,232

TOTAL LIABILITIES & SHAREHOLDERS'

EQUITY $2,884,974 $3,162,545

WARNER CHILCOTT LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(in thousands of U.S. dollars)

(Unaudited)

Quarter Ended Year Ended

Dec-31-07 Dec-31-06 Dec-31-07 Dec-31-06

CASH FLOWS FROM OPERATING

ACTIVITIES:

Net income / (loss) $19,687 $(8,520) $28,875 $(153,510)

Adjustments to reconcile net

income / (loss) to net cash

provided by operating

activities:

Depreciation 2,892 2,171 10,250 7,177

Amortization of intangible

assets 56,169 68,300 228,330 253,425

Amortization of debt finance

costs 3,280 11,135 13,813 30,154

Stock compensation expense 1,085 1,711 6,115 17,787

Accretion of preferred stock

in subsidiary - - - 26,190

Changes in assets and

liabilities:

Decrease / (increase) in

accounts receivable, prepaid

and other assets 12,742 12,780 1,852 (22,914)

(Increase) / decrease in

inventories (621) (6,955) 12,345 (34,978)

Increase in accounts payable,

accrued expenses & other

liabilities 17,107 1,888 32,430 7,933

(Decrease) / increase in

income taxes and other, net (6,507) (11,581) 5,540 (8,529)

Net cash provided by operating

activities $105,834 $70,929 $339,550 $122,735

CASH FLOWS FROM INVESTING

ACTIVITIES:

Purchase of intangible assets (2,900) (7,200) (24,000) (267,336)

Capital expenditures (6,772) (4,046) (18,798) (15,420)

Net cash (used in) investing

activities $(9,672) $(11,246) $(42,798) $(282,756)

CASH FLOWS FROM FINANCING

ACTIVITIES:

Borrowings under bank term

credit facility - - - 240,000

(Repayments) of Senior

Subordinated Notes - (210,000) - (210,000)

(Repayments) under senior

secured credit term loan

facility (92,305) (53,075) (350,511) (468,750)

Borrowings under revolving

credit facilities - - - 84,600

(Repayment) of revolving

credit facilities - - - (84,600)

Proceeds from share capital

issue, net of expenses - - - 1,005,682

Purchase of treasury stock - - - (6,330)

Purchase of preferred stock in

subsidiary - - - (327,164)

Other 157 (54) 71 (455)

Net cash (used in) / provided by

financing activities (92,148) (263,129) (350,440) 232,983

Net increase / (decrease) in

cash and cash equivalents $4,014 $(203,446) $(53,688) $72,962

Cash and cash equivalents,

beginning of period 26,762 287,910 84,464 11,502

Cash and cash equivalents, end

of period $30,776 $84,464 $30,776 $84,464

WARNER CHILCOTT LIMITED

Reconciliation of Net Income / (Loss) to Adjusted EBITDA

(In thousands of U.S. dollars)

(Unaudited)

Quarter Ended Year Ended

Dec-31-07 Dec-31-06 Dec-31-07 Dec-31-06

RECONCILIATION TO ADJUSTED

EBITDA:

Net income / (loss) - GAAP $19,687 $(8,520) $28,875 $(153,510)

+ Interest expense, net 27,284 60,214 117,618 206,994

+ Provision for income taxes 12,195 (19,508) 18,416 (11,147)

+ Stepped up basis of inventory

in cost of sales - - - 1,464

+ Non-operating, sponsors'

management fees in SG&A - - - 31,173

+ Non-cash share-based

compensation expense 1,085 1,711 6,115 17,787

+ Depreciation 2,892 2,171 10,250 7,177

+ Amortization of intangible

assets 56,169 68,300 228,330 253,425

+ R&D milestone expense 500 - 14,500 3,000

+ Accretion on preferred stock

in subsidiary - - - 26,190

+ Litigation settlements - - 26,500 -

Adjusted EBITDA of WCL, as

defined $119,812 $104,368 $450,604 $382,553

+ Expenses of WCL and other 5,637 2,465 10,687 2,769

Adjusted EBITDA of Warner

Chilcott Holdings Company

III, Limited., as defined $125,449 $106,833 $461,291 $385,322

Note: Warner Chilcott Holdings Company III, Limited and certain of its

subsidiaries are parties to our credit agreement and the indenture

governing our Senior Subordinated Notes due 2015. Certain expenses

included in Warner Chilcott Limited's ("WCL") consolidated operating

results are not deducted in arriving at Adjusted EBITDA for Warner

Chilcott Holdings Company III, Limited and its subsidiaries.

WARNER CHILCOTT LIMITED

REVENUE BY PRODUCT

(In millions of U.S. dollars)

(Unaudited)

Quarter Ended Year Ended

Dec-31-07 Dec-31-06 Dec-31-07 Dec-31-06

Oral Contraception ("OC")

LOESTRIN 24 FE $41.6 $21.5 $148.9 $44.2

FEMCON FE 11.6 7.5 32.4 7.5

ESTROSTEP FE 10.1 24.0 70.2 103.0

OVCON 35/50 3.4 5.3 15.5 73.8

Total OC 66.7 58.3 267.0 228.5

Hormone therapy ("HT")

ESTRACE Cream 20.2 17.7 73.1 65.8

FEMHRT 16.4 17.0 63.7 58.7

FEMRING 4.8 3.4 15.5 11.3

ESTRACE Tablets 2.1 2.2 9.7 7.6

FEMTRACE 0.6 1.3 3.8 3.3

Total HT 44.1 41.6 165.8 146.7

Dermatology

DOVONEX 37.9 37.3 145.3 146.9

TACLONEX 29.9 22.4 127.2 60.1

DORYX 31.6 27.1 115.8 102.4

Total Dermatology 99.4 86.8 388.3 309.4

PMDD

SARAFEM 9.2 9.6 37.7 37.9

Other product sales

Other 0.9 1.4 3.7 8.6

Contract manufacturing 4.3 6.1 25.7 20.8

Total product net sales 224.6 203.8 888.2 751.9

Other revenue

Other non-product revenue 3.1 2.6 11.4 2.6

Total revenue $227.7 $206.4 $899.6 $754.5

WARNER CHILCOTT LIMITED

SUMMARY OF SG&A EXPENSES

(In millions of U.S. dollars)

(Unaudited)

Quarter Ended

Dec-31-07 Dec-31-06

Advertising & promotion $15.5 $17.0

Selling & distribution 22.8 20.1

General, administrative & other 18.7 17.8

Total SG&A $57.0 $54.9

Year Ended

Dec-31-07 Dec-31-06

Advertising & promotion $81.0 $72.0

Selling & distribution 89.5 75.8

General, administrative & other 95.3 106.1

Total SG&A $265.8 $253.9

ease of $21.3 million, or 10.3%, over the prior year quarter. The primary drivers of the increase in revenue, as compared to the prior year quarter, were the net sales of two products, LOESTRIN 24 FE and TACLONEX.

Sales of our oral contraceptive products increased $8.4 million, or 13.9%, in the quarter ended December 31, 2007, compared with the prior year quarter. LOESTRIN 24 FE generated revenues of $41.6 million in the quarter ended December 31, 2007, compared to $21.5 million in the prior year quarter. The increase in revenues was primarily due to an increase of 93.8% in filled prescriptions for LOESTRIN 24 FE compared to the prior year quarter. Filled prescriptions of LOESTRIN 24 FE increased 6.5% sequentially in the quarter ended December 31, 2007, compared to the quarter ended September 30, 2007. We introduced and began commercial sales of FEMCON FE in the second half of 2006, but did not initiate promotional efforts in support of the product until April 2007. Beginning in April 2007, FEMCON FE became a promotional priority for our Chilcott sales force and generated revenues of $11.6 million in the quarter ended December 31, 2007, an increase of $4.1 million, or 53.3%, versus the prior year quarter. The increase in revenues was primarily due to a 200.0% increase in filled prescriptions for FEMCON FE compared to the prior year quarter. Filled prescriptions of FEMCON FE increased 15.0% sequentially in the quarter ended December 31, 2007 compared to the quarter ended September 30, 2007. Net sales of ESTROSTEP FE decreased $13.9 million, or 58.0%, in the quarter ended December 31, 2007 compared to the prior year quarter. The decrease in revenues was due to the introduction of generic versions of ESTROSTEP FE beginning in late October 2007, which lowered filled prescriptions of ESTROSTEP FE by 60.6% versus the prior year quarter. At the time of the launch of a generic version of ESTROSTEP FE, we partnered with Watson Pharma, Inc. to launch Tilia(TM) Fe, an authorized generic version of ESTROSTEP FE. OVCON net sales declined $1.9 million, or 37.2%, in the quarter ended December 31, 2007 compared with the prior year quarter. The decline in OVCON revenues was primarily due to the introduction of generic versions of OVCON 35 beginning in late October 2006, which led to an 83.3% decline in filled prescriptions in the quarter ended December 31, 2007 compared to the prior year quarter. This decline was partially offset by price increases.

Sales of our dermatology products increased $12.6 million, or 14.3%, in the quarter ended December 31, 2007 compared to the prior year quarter, primarily due to a $7.5 million increase in TACLONEX sales. Filled prescriptions for TACLONEX increased 33.8% compared to the prior year quarter. Sales of DORYX increased $4.5 million, or 16.4%, in the quarter ended December 31, 2007, compared with the prior year quarter due to increased demand and higher average selling prices. DORYX prescriptions had been declining through the first half of 2007. In January 2007, we took steps to increase our Dermatology sales force's emphasis on DORYX and those changes resulted in filled prescriptions of DORYX increasing 4.8% in the quarter ended December 31, 2007, compared to the prior year quarter. Sales of DOVONEX increased $0.6 million, or 1.6%, in the quarter ended December 31, 2007 compared with the prior year quarter as price increases more than offset a 23.0% decline in filled prescriptions.

Sales of our hormone therapy products increased $2.5 million, or 6.4%, in the quarter ended December 31, 2007, compared with the prior year quarter. FEMHRT filled prescriptions were down 12.9% in the quarter ended December 31, 2007, compared with the prior year quarter. The impact of this decrease was partially offset by higher selling prices. Sales of ESTRACE CREAM increased due to higher average selling prices, although filled prescriptions were flat in the quarter ended December 31, 2007 compared with the prior year quarter.

Cost of Sales (excluding amortization of intangible assets)

Cost of sales increased $0.1 million, or 0.1%, in the quarter ended December 31, 2007, compared with the prior year quarter. Our gross profit margin, as a percentage of total revenue, increased to 80.8% in the current year quarter from 78.9% in the prior year quarter. Our gross profit margins, as a percentage of total revenue, fluctuate due to a number of factors, primarily the mix of products sold.

Selling, General and Administrative ("SG&A") Expenses

SG&A expenses for the quarter ended December 31, 2007 were $57.0 million, an increase of $2.1 million, or 3.7%, from $54.9 million in the prior year quarter. Advertising and promotion expenses for the quarter ended December 31, 2007 decreased $1.5 million, or 8.8%, compared with the prior year quarter. The decrease was primarily due to product launch expenses incurred in the quarter ended December 31, 2006 related to LOESTRIN 24 FE and TACLONEX, offset partially by an increase in direct-to-consumer spending for LOESTRIN 24 FE in the quarter ended December 31, 2007. Selling and distribution expenses for the quarter ended December 31, 2007 increased $2.7 million, or 13.2%, over the prior year quarter primarily due to the expansion of our field sales forces in the first half of 2007 to support the initiation of promotional activities for FEMCON FE. General, administrative and other ("G&A") expenses in the quarter ended December 31, 2007 increased $0.9 million, or 5.0%, over the prior year quarter. The increase in G&A expenses was primarily due to increases in compensation expense related to annual salary increases.

Research and Development ("R&D")

Our investment in R&D for the quarter ended December 31, 2007 was $11.7 million, an increase of $4.3 million, or 59.5%, compared with the prior year quarter. In November 2007, we entered into an agreement with NexMed, Inc. ("NexMed"). Under the terms of the agreement, we obtained the exclusive U.S. rights to NexMed's topically applied alprostadil cream for the treatment of erectile dysfunction. We paid a license fee of $0.5 million which was recognized in R&D expense in the fourth quarter of 2007. The increase in our R&D activities, excluding the $0.5 million payment to NexMed, was $3.8 million, or 52.7%, which was mainly due to costs incurred in connection with clinical studies for two new oral contraceptives. We completed the enrollment of the first clinical study for a low-dose oral contraceptive in July 2007 and we completed enrollment of another clinical study for an oral contraceptive in December 2007.

Net Interest Expense

Interest expense, less interest income ("Net Interest Expense") for the quarter ended December 31, 2007 was $27.3 million, a decrease of $32.9 million, or 54.7%, from $60.2 million in the prior year quarter. The quarter ended December 31, 2007 included a $1.6 million write-off of deferred loan costs associated with an optional prepayment of $90.0 million under our senior secured credit facility. In the quarter ended December 31, 2006, the Company paid a premium in the amount of $18.4 million in connection with the optional redemption of $210.0 million of our 8.75% Senior Subordinated Notes ("Notes"). As a result of the optional redemption, the quarter ended December 31, 2006 included an $8.0 million write-off of deferred loan costs associated with the Notes. The quarter ended December 31, 2006 also included a $1.1 million write- off of deferred loan costs associated with an optional prepayment of $50.0 million under our senior secured credit facility. Excluding the premium payment and the write-offs of deferred loan costs, Net Interest Expense decreased $7.0 million, or 21.7%, in the current quarter. The decrease was primarily the result of reductions in outstanding debt which reduced the weighted average debt outstanding in the quarter ended December 31, 2007, as compared to the prior year quarter. Over the course of 2007, we made optional and mandatory principal repayments of term debt totaling $350.5 million using free cash flow and cash on hand.

Income taxes

Our effective tax rates for the quarter and year ended December 31, 2007 was 38.3% and 38.9%, respectively. On February 25, 2008, the Company's US operating entities entered into an Advanced Pricing Agreement ("APA") with the Internal Revenue Service ("IRS") covering the calendar years 2006 through 2010. The APA is an agreement with the IRS that specifies the agreed upon terms under which the Company's U.S. entities are compensated for services provided on behalf of its non-U.S. entities. The APA provides the Company with greater certainty with respect to the mix of its pre-tax income in the various tax jurisdictions in which it operates.

Net Income and Cash Net Income

For the quarter ended December 31, 2007, reported net income was $19.7 million, or $0.08 per share, and CNI was $73.9 million, or $0.30 per share, based on 250.5 million diluted Class A common shares outstanding. In arriving at CNI, we add back the after-tax impact of the amortization of intangible assets and the amortization and write-off of deferred financing costs. These items are tax-effected at the estimated marginal rates attributable to them. In the quarter ended December 31, 2007, the marginal tax rate associated with the amortization of intangible assets was 8.8% and the marginal tax rate for amortization and write-off of deferred financing costs was 8.9%.

Liquidity, Balance Sheet and Cash Flows

As of December 31, 2007, our cash and cash equivalents totaled $30.8 million and total debt outstanding was $1,200.2 million, a decrease of $350.5 million in total debt outstanding, compared to $1,550.7 million as of December 31, 2006. There were no borrowings outstanding under the revolving portion of our senior secured credit facility. We generated $105.8 million of cash from operating activities in the quarter ended December 31, 2007, compared with $70.9 million in the prior year quarter, an increase of $34.9 million, or 49.2%. Net income for the quarter ended December 31, 2007 increased by $28.2 million from an $8.5 million net loss in the prior year quarter.

Investor Conference Call

The Company is hosting a conference call, open to all interested parties, on Friday, February 29, 2008 beginning at 8:00 AM EST. The number to call within the United States and Canada is (877) 548-7906. Participants outside the United States and Canada should call (719) 325-4899. The conference ID number is 7039154. A replay of the conference call will be available from two hours after the call through midnight EST on March 14, 2008 and can be accessed by dialing (888) 203-1112 from within the United States and Canada or (719) 457-0820 from outside the United States and Canada.

The Company

Warner Chilcott is a leading specialty pharmaceutical company currently focused on the women's healthcare and dermatology segments of the U.S. pharmaceuticals market. We are a fully integrated company with internal resources dedicated to the development, manufacturing and promotion of our products. WCRX-F

Forward Looking Statements

This press release contains forward-looking statements, including statements concerning our operations, our economic performance and financial condition, and our business plans and growth strategy and product development efforts. These statements constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "may," "might," "will," "should," "estimate," "project," "plan," "anticipate," "expect," intend," "outlook," "believe" and other similar expressions are intended to identify forward- looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward- looking statements are based on estimates and assumptions by our management that, although we believe to be reasonable, are inherently uncertain and subject to a number of risks and uncertainties.

The following represent some, but not necessarily all, of the factors that could cause actual results to differ from historical results or those anticipated or predicted by our forward-looking statements: our substantial indebtedness; competitive factors in the industry in which we operate (including the approval and introduction of generic or branded products that compete with our products); our ability to protect our intellectual property; a delay in qualifying our manufacturing facility to produce our products or production or regulatory problems with either third party manufacturers upon whom we may rely for some of our products or our own manufacturing facility; pricing pressures from reimbursement policies of private managed care organizations and other third party payors, government sponsored health systems, the continued consolidation of the distribution network through which we sell our products, including wholesale drug distributors and the growth of large retail drug store chains; the loss of key senior management or scientific staff; adverse outcomes in our outstanding litigation or an increase in the number of litigation matters to which we are subject; government regulation affecting the development, manufacture, marketing and sale of pharmaceutical products, including our ability and the ability of companies with whom we do business to obtain necessary regulatory approvals; our ability to manage the growth of our business by successfully identifying, developing, acquiring or licensing new products at favorable prices and marketing such new products; our ability to obtain regulatory approval and customer acceptance of new products, and continued customer acceptance of our existing products; changes in tax laws or interpretations that could increase our consolidated tax liabilities; the other risks identified in our Annual Report on Form 10-K for the year ended December 31, 2007; and other risks detailed from time-to-time in our public filings, financial statements and other investor communications.

We caution you that the foregoing list of important factors is not exclusive. In addition, in light of these risks and uncertainties, the matters referred to in our forward-looking statements may not occur. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as may be required by law.

Reconciliations to GAAP Net Income / (Loss)

Cash Net Income / (loss) and Adjusted Cash Net Income

To supplement its condensed consolidated financial statements presented in accordance with US GAAP, the Company is providing a summary to show the computation of cash net income / (loss) and adjusted cash net income to add back certain non-cash and one-time or nonrecurring charges. The Company believes that the presentation of cash net income / (loss) and adjusted cash net income provides useful information to both management and investors concerning the approximate impact of the above items. The Company also believes that considering the effect of these items allows management and investors to better compare the Company's financial performance from period-to-period, and to better compare the Company's financial performance with that of its competitors. The presentation of this additional information is not meant to be considered in isolation of, or as a substitute for, results prepared in accordance with US GAAP.

Adjusted EBITDA

To supplement its condensed consolidated financial statements presented in accordance with US GAAP, the Company is providing a summary to show the computation of adjusted earnings before interest, taxes, depreciation and amorti
'/>"/>

SOURCE Warner Chilcott Limited
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Warner Chilcott Announces Earnings Release Date and Conference Call for Fourth Quarter and Full Year 2007 Financial Results
2. Warner Chilcott and Watson Pharmaceuticals Announce Launch of Tilia(TM) Fe
3. Warner Chilcott Announces Earnings Release Date and Conference Call for Third Quarter 2007 Financial Results
4. Warner Chilcott Announces New Information in USPTO Reexamination of Taclonex Patent
5. Warner Chilcott Announces Receipt of Paragraph IV Certification Notice
6. Cepheid Reports Fourth Quarter and Full Year 2007 Results
7. Strategic Diagnostics Reports Fourth Quarter and Full-Year Financial Results
8. US Oncology Reports Fourth Quarter and Fiscal Year 2007 Results
9. Barr Reports GAAP Earnings of $1.18 Per Share for 2007 and $0.30 Per Share for the Fourth Quarter; Adjusted Earnings Were $3.16 Per Share for 2007 and $0.79 Per Share for the Fourth Quarter
10. Masimo Reports Fourth Quarter 2007 and Full Year 2007 Financial Results
11. eResearchTechnology Reports Fourth Quarter and Full Year 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... , Feb. 5, 2016 Australian-US drug discovery ... announced today the appointment of a new Chairman, Mr ... Carmine , effective immediately. James Garner , ... Executive Director and former Acting CEO, Mr Iain Ross ... Non-Executive Director. --> James Garner , has also ...
(Date:2/4/2016)... ... 04, 2016 , ... Shimadzu Scientific Instruments will showcase several ... and poster sessions, and present on the analysis of mycotoxins and medical cannabis ... to 10 at the Georgia World Congress Center in Atlanta, Georgia. , ...
(Date:2/4/2016)... and MENLO PARK, Calif. , Feb. ... ("DelMar" and the "Company"), a biopharmaceutical company focused on the ... it will present at the 18 th Annual ... 2016 at 10:00 a.m. EST in New York, ... president and CEO, will provide an update on the ongoing ...
(Date:2/4/2016)... Sinovac Biotech Ltd. ("Sinovac" or the "Company") (NASDAQ: ... China , today announced that the ... February 4, 2016 a preliminary non-binding proposal letter, dated ... V-Ming ( Shanghai ) Investment Holdings Co., ... Shenzhen ) Fund Management Co., Ltd., Beijing ...
Breaking Biology Technology:
(Date:1/20/2016)... SAN JOSE, Calif. , Jan. 20, 2016 ... leading developer of human interface solutions, today announced ... touch controller solution for wearables and small screen ... appliances such as printers. Supporting round and rectangular ... the S1423 offers excellent performance with moisture on ...
(Date:1/11/2016)... , Jan. 11, 2016 Synaptics Incorporated ... interface solutions, today announced that its ClearPad ® ... (TDDI) products won two separate categories in the 8 ... Innovator and Best Technology Breakthrough. The Synaptics ® ... a simplified supply chain, thinner devices, brighter displays and ...
(Date:1/7/2016)... -- Various factors have contributed to the rise ... and biosimilars. Some of these factors include the ... for cost-effective alternatives, growing burden of chronic diseases, ... of their corresponding patented biologic drugs, and are ... efficacy. The global biosimilars market is estimated to ...
Breaking Biology News(10 mins):