Watson Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results; Provides 20... ($440 million. Amortization expense for 2...)

Watson Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results; Provides 2008 Outlook

Date:2/20/2008

$440 million. Amortization expense for 2008 is expected to be approximately $80 million.

In 2008, the Company expects to incur pre-tax costs associated with the planned closure of its Carmel, NY manufacturing facilities of approximately $34 million which includes accelerated depreciation, severance, retention and other related plant closure costs. The Company also expects to incur $8 million of licensing and debt repurchase charges. These charges are excluded from Watson's 2008 adjusted earnings per diluted share forecast as detailed in Table 6 below.

For 2008, the Company expects GAAP earnings per diluted share to be between $1.68 to $1.78 and adjusted earnings per diluted share to be between $1.90 and $2.00. Excluding special items as detailed in the EBITDA reconciliation table below, adjusted EBITDA is expected to be between $555 and $575 million.

Webcast and Conference Call Details

Watson will host a conference call and webcast today at 8:30 a.m. Eastern Standard Time to discuss fourth quarter and full year 2007 results, projections for 2008 and recent corporate developments. The dial-in number to access the call is (877) 251-7980, or from international locations, (706) 643-1573. A taped replay of the call will be available by calling (800) 642-1687 with access pass code 32008884. The replay may be accessed from international locations by dialing (706) 645-9291 and using the same pass code. This replay will remain in effect until midnight Eastern Standard Time, February 29, 2008. To access the live webcast, go to Watson's Investor Relations website at http://ir.watson.com.

About Watson Pharmaceuticals, Inc.

Watson Pharmaceuticals, Inc., headquartered in Corona, California, is a leading specialty pharmaceutical company that develops, manufactures, markets, sells and distributes brand and generic pharmaceutical products. Watson pursues a growth strategy combining internal p
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Watson Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results; Provides 20...($440 million. Amortization expense for 2...)