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 in the quarter ended December 31, 2007 was $227.7 million, an
|SOURCE Warner Chilcott Limited|
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