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Cephalon Reports Strong First Quarter Earnings
Date:5/1/2008

tors or forward-looking statements. Furthermore, Cephalon does not intend to update publicly any forward-looking statement, except as required by law. The Private Securities Litigation Reform Act of 1995 permits this discussion.

This press release and/or the financial results attached to this press release include "Adjusted Net Income," "Basic Adjusted Income per Common Share," "Adjusted Net Income Guidance," "Basic Adjusted Income per Common Share Guidance," and "Diluted Adjusted Income Per Common Share," amounts that are considered "non-GAAP financial measures" under SEC rules. As required, we have provided reconciliations of these measures. Additional required information is located in the Form 8-K furnished to the SEC in connection with this press release.

CEPHALON, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

Three Months Ended

March 31,

2008 2007

REVENUES:

Sales $433,897 $423,879

Other revenues 9,322 13,155

443,219 437,034

COSTS AND EXPENSES:

Cost of sales 89,916 86,546

Research and development 81,435 83,958

Selling, general and administrative 198,984 152,454

Restructuring charges 3,911 -

Acquired in-process research and development 10,000 -

384,246 322,95
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SOURCE Cephalon, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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