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CVS Caremark Reports Record Results in Fourth Quarter and Year 2008
Date:2/19/2009

1) Ended(1)(2) In millions, except per December December December December share amounts 31, 2008 29, 2007 31, 2008 29, 2007 Net revenues $24,142.2 $21,942.4 $87,471.9 $76,329.5 Cost of revenues 18,918.6 17,491.6 69,181.5 60,221.8 Gross profit 5,223.6 4,450.8 18,290.4 16,107.7 Operating expenses 3,491.8 2,974.9 12,244.2 11,314.4 Operating profit 1,731.8 1,475.9 6,046.2 4,793.3 Interest expense, net 151.2 137.3 509.5 434.6 Earnings from continuing operations before income tax provision 1,580.6 1,338.6 5,536.7 4,358.7 Income tax provision 627.3 523.6 2,192.6 1,721.7 Earnings from continuing Operations 953.3 815.0 3,344.1 2,637.0 Loss from discontinued operations, net of income tax benefit(3) (0.5) - (132.0) - Net earnings 952.8 815.0 3,212.1 2,637.0 Preference dividends, net of income tax benefit 3.5 3.8 14.1 14.2 Net earnings available to common shareholders $949.3 $811.2 $3,198.0 $2,622.8 Basic earnings per common share: Earnings from continuing operations $0.66 $0.56 $2.32 $1.97 Loss from discontinued operations - - (0.09) - Net earnings $0.66 $0.56 $2.23 $1.97 Weighted average basic common shares outstanding 1,436.6 1,440.5 1,433.5 1,328.2 Diluted earnings per common share:(4) Earnings from continuing operations $0.65 $0.55 $2.27 $1.92 Loss from
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SOURCE CVS Caremark Corporation
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