broad-based growth in Asia and Latin America.
-- Worldwide ConvaTec sales increased 11%, including a 7% favorable
foreign exchange impact, to $323 million in the fourth quarter of 2007
from $291 million in the same period in 2006. Sales of wound
therapeutic products increased 11%, including a 7% favorable foreign
exchange impact, to $136 million in the fourth quarter of 2007 from
$123 million in the same period in 2006, primarily due to continued
growth of AQUACEL(R).
Bristol-Myers Squibb revises its 2008 earnings guidance for fully diluted earnings per share from continuing operations on a GAAP basis to be between $1.36 and $1.46 from $1.44 to $1.54, primarily reflecting the impact from the sale of the Medical Imaging business. The revised GAAP guidance includes estimated charges of approximately $500 million related to implementation of the Productivity Transformation Initiative, which will be dependent on timing of implementation and accounting treatment.
The company also revises its 2008 fully diluted earnings per share from continuing operations guidance on a non-GAAP basis to be between $1.60 and $1.70 from $1.65 to $1.75, primarily reflecting the impact of the Medical Imaging divestiture. The non-GAAP guidance excludes specified items as discussed under "Use of Non-GAAP Financial Information." Details reconciling adjusted non-GAAP amounts with the amounts reflecting specified items are provided in supplemental materials available on the company's website.
Further, the 2008 guidance excludes other specified items such as gains
or losses from sale of businesses and product lines; from sale of equity
investments and from discontinuations of operations; restructuring items
that meet the requirements of SFAS 112 for severance and SFAS 146 for other
exit costs; accelerated deprec
|SOURCE Bristol-Myers Squibb Company|
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