Wyeth Reports Earnings Results for the 2008 Third Quarter and First N...(sale of a manufacturing facilityin Japan...)

Date:10/22/2008

sale of a manufacturing facility in Japan in the 2008 first quarter. The third quarter and first nine months of 2007 included productivity initiative charges of $117.1 million and $209.5 million, respectively, primarily related to manufacturing site network consolidation initiatives.

Increase in Common Stock Dividend

As previously announced on September 25, 2008, the Company declared a dividend of thirty cents ($0.30) per share on the outstanding shares of its common stock, payable on December 1, 2008 to stockholders of record at the close of business on November 13, 2008. This quarterly rate represents a 7.1% increase per share from the previous quarter ($0.28).

Results of Operations

The comparative results of operations are as follows:

(In thousands except per share amounts)

(UNAUDITED)

Three Months Ended Nine Months Ended

9/30/2008 9/30/2007 9/30/2008 9/30/2007

Net Revenue $5,829,582 $5,619,536 $17,485,589 $16,636,272

Cost of Goods Sold 1,571,467 1,617,581 4,817,417 4,622,269

Selling, General and

Administrative Expenses 1,635,719 1,670,671 5,190,432 4,871,222

Research and Development

Expenses 799,757 798,464 2,475,201 2,374,319

Interest (Income)

Expense, Net 12,953 (39,622) 4,182 (73,440)

Other (Income)

Expense, Net 101,878 (61,416) (86,284) (251,748)

Income before Income

Taxes 1,707,808 1,633,858 5,084,641 5,093,650

Provision for Income

Taxes 569,401 487,953 1,627,193 1,495,120

Net Income $1,138,407 $1,145,905 $3,457,448 $3,598,530

Basic Earnings per Share $0.85 $0.85 $2.59 $2
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SOURCE Wyeth Copyright©2008 PR Newswire. All rights reserved

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