Wyeth Reports Earnings Results for the 2008 Third Quarter and First N...(218247 $1231905 $3717378 $3751030 ...)

Basic Earnings per Share $0.91 $0.92 $2.79 $2.79

Average Number of Common

Shares Outstanding during

Each Period - Basic 1,332,744 1,343,036 1,333,542 1,343,897

Diluted Earnings per Share $0.90 $0.90 $2.75 $2.74

Average Number of Common

Shares Outstanding during

Each Period - Diluted 1,356,909 1,372,145 1,358,902 1,376,505

See Notes to Results of Operations.

Notes to Results of Operations

(1) The average number of common shares outstanding for diluted earnings per share is higher than for basic earnings per share due to the assumed conversion of the Company's outstanding convertible senior debentures, outstanding stock options, deferred contingent common stock awards, performance share awards, restricted stock awards and convertible preferred stock into common stock equivalents using the treasury stock method. For purposes of calculating diluted earnings per share, interest expense, net of capitalized interest and taxes related to the Company's outstanding convertible senior debentures is added back to reported net income, and the additional shares of common stock (assuming conversion) are included in total shares outstanding. Interest expense, net of capitalized interest and taxes related to these debentures was $5,687 and $19,523 for the 2008 third quarter and first nine months, respectively, compared with $7,838 and $23,617 for the 2007 third quarter and first nine months, respectively.

(2) Other (income) expense, net included royalty income for the 2008 third quarter and first nine months of $34,190 and $202,179, respectively, compared with $63,265 and $202,048 for the prior year. The 2008 first nine months included a one-time royalty milestone payment of $60,000 related to the previous
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