US GAAP Adjustments GAAP(1) US GAAP Adjustments GAAP(1)
$M $M $M $M $M $M
_______ _________ __________ _______ __________ __________
Revenues 608.7 - 608.7 449.4 - 449.4
operations(2) 11.0 137.7 148.7 119.1 (2.1) 117.0
Net income 34.7 91.5 126.2 87.2 (1.5) 85.7
Ordinary share 6.3c 15.8c 22.1c 17.1c (0.3c) 16.8c
ADS 18.9c 47.4c 66.3c 51.3c (0.9c) 50.4c
Note: Average exchange rates for Q3 2007 and Q3 2006 were $2.02:
GBP1.00 and $1.87: GBP1.00 respectively.
(1) Non GAAP income from ongoing operations, Non GAAP net income, Non GAAP diluted earnings per ordinary share and Non GAAP diluted earnings per ADS exclude intangible asset amortization charges, the accounting impact of share-based compensation and other items as described on page 6. For an explanation of why Shire's management believes that these non-GAAP financial measures are useful to investors, see page 6. For a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with US GAAP, see pages 24-25.
(2) Income from continuing operations before income taxes and equity in earnings of equity method investees.
2007 Financial Outlook
Following strong revenue performance this quarter, Shire has upgraded the guidance given with the Q2 2007 results:
- 2007 revenue growth is now expected to be at least 30% (Q2 guidance: at least 25%). Prescription growth in the ADHD market is assumed to be 5-7%;
- Costs including the continued development, launch and roll-out of new products are expected to be as follows:
- Research and Development ("R&D") spend f
|SOURCE Shire plc|
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