Three Months Ended June 30,
2008 2007 % Change
REVENUES $1,867,587 $1,631,159 14.5
Cost of products sold 917,362 791,071 16.0
Selling and
administrative 440,588 412,164 6.9
Research and
development 100,071 92,993 7.6
Acquired in-process
research and
development - 7,394 NM
TOTAL OPERATING COSTS
AND EXPENSES 1,458,021 1,303,622 11.8
OPERATING INCOME 409,566 327,537 25.0
Interest income 10,956 11,938 (8.2)
Interest expense (9,017) (11,598) (22.3)
Other income, net (1,285) 1,774 NM
INCOME FROM CONTINUING
OPERATIONS BEFORE
INCOME TAXES 410,220 329,651 24.4
Income tax provision 112,811 89,182 26.5
INCOME FROM CONTINUING
OPERATIONS 297,409 240,469 23.7
(LOSS)/INCOME FROM
DISCONTINUED
OPERATIONS NET OF INCOME
TAX (BENEFIT)/PROVISION
OF $(197) AND $2,704,
RESPECTIVELY (320) 4,340 NM
NET INCOME $297,089 $244,809 21.4
EARNINGS PER SHARE
Basic:
Income from continuing
operations $1.22 $0.98 24.5
Income from
discontinued
operations $- $0.02 NM
Net income $1.22 $1.00 22.0
Diluted:
Income from continuing
operations $1.18 $0.95 24.2
Income from
discontinued
operations $- $0.02 NM
Net income (1) $1.18
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