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Hospira Reports Fourth-Quarter and Full-Year 2008 Results
Date:2/17/2009

---------------- % 2008 2007 Change 2008 2007 Change ------ ------ ------ ------ ------ ------ Net Sales $3,629.5 $3,436.2 5.6 % n/a n/a n/a Gross Profit $1,322.0 $1,173.9 12.6 % $1,426.5 $1,325.1 7.7 % Income from Operations $517.8 $302.6 71.1 % $647.1 $579.6 11.6 % Diluted EPS $1.99 $0.85 134.1 % $2.53 $2.19 15.5 % Statistics (as a % of Net Sales) -------------------------------- Gross Profit 36.4 % 34.2 % 39.3 % 38.6 % Operating Income 14.3 % 8.8 % 17.8 % 16.9 %

Net sales increased 5.6 percent to $3.6 billion for the year ended Dec. 31, 2008, compared to $3.4 billion for the prior year. The increase was primarily a result of the impact of new group purchasing organization (GPO) awards; strong demand for the company's MMS product lines; and favorable foreign currency translation.

Adjusted* operating income increased 11.6 percent to $647 million for the full year of 2008, compared to $580 million for the full year of 2007. The increase is primarily a result of favorable volume/mix, improved manufacturing efficiencies and the impact of foreign exchange.

Cash Flow

Cash flow from operations for the full-year 2008 was $584 million, an increase compared to the $551 million generated in 2007.

Capital expenditures were $164 million for the full year, compared to $211 million in 2007. The decline is partly due to lower spending in 2008 than in 2007 related to the company's facilities optimization initiatives, as well as to capital-spending controls the company effected in the second half of 2008.

2009 Projections

Hospira expects net sales growth for full-year 2009 to be approximately 4 to 6 percent on a constant-curre
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SOURCE Hospira, Inc.
Copyright©2009 PR Newswire.
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