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Watson Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results; Provides 2008 Outlook
Date:2/20/2008

102,608 101,892 102,273 101,761

Effect of dilutive securities:

Conversion of CODES 14,357 - 14,357 -

Dilutive stock options 409 - 409 -

Diluted weighted average common

shares outstanding 117,374 101,892 117,039 101,761

Diluted earnings per share - Adjusted

Diluted earnings per share -

Adjusted $0.35 $0.25 $1.37 $1.02

Basic weighted average common

shares outstanding 102,608 101,892 102,273 101,761

Effect of dilutive securities:

Conversion of CODES 14,357 14,357 14,357 14,357

Dilutive stock options 409 222 409 234

Diluted weighted average common

shares outstanding 117,374 116,471 117,039 116,352

The following table presents a reconciliation of reported net income for the three and twelve months ended December 31, 2007 and 2006 to adjusted EBITDA:

Table 5

Watson Pharmaceuticals, Inc.

Adjusted EBITDA Reconciliation Table

(Unaudited; in millions)

Three Months Twelve Months

Ended December 31, Ended December 31,

2007 2006 2007 2006

GAAP net income (loss) $38.4 $(489.0) $141.0 $(445.0)

Plus:

Interest expense 9.0 11.6 44.5 22.1

Interest income (2.2) (5.6) (8.9) (28.4)

Provision for income

taxes 21.4 7.8 83.2 34.1

Depreciation 20.2 17.6 77.2 54.6

Amortization 44.2
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SOURCE Watson Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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