$29 million, or $0.04 per diluted share. Also included in research
and development expenses in 2007 was an IPR&D charge of $11 million
($7 million, or $0.01 per diluted share, on an after-tax basis)
related to the acquisition of MAAS Medical, LLC.
(4) Restructuring charges of $70 million ($46 million, or $0.07 per
share, on an after-tax basis) in 2007 are primarily for costs and
asset impairments associated with the consolidation of certain
commercial and manufacturing operations outside of the United States.
(5) Other expense, net in 2007 included income of $23 million, reflecting
a gain on the sale of the Transfusion Therapies business of $58
million less related charges of $35 million. The after-tax impact of
these items was $6 million of income, or $0.01 per diluted share.
(6) See page 10 for description of adjustments and reconciliation to GAAP
Non-GAAP Financial Measures: The non-GAAP financial measures contained in
this press release (pre-tax income, net income and per-share earnings,
excluding certain items) adjust for factors that are unusual or
nonrecurring. Unusual or nonrecurring items can be highly variable,
difficult to predict, and of a size that may substantially impact the
company's reported operations for a period. Management believes that non-
GAAP financial measures can facilitate a fuller analysis of the company's
results of operations, particularly in evaluating performance period over
period. Management uses these non-GAAP financial measures internally in
financial planning, to monitor business unit performance, and in
evaluating management performance. Refer to the company's filing on Form
8-K of today's date for additional information.
BAXTER INTERNATIONAL INC.
|SOURCE Baxter International Inc.|
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