Net Sales $838.0 $646.6 29.6% n/a n/a n/a
Net Income $59.4 $55.9 6.1% $78.7 $72.9 7.9%
Diluted EPS $0.37 $0.35 5.7% $0.49 $0.45 8.9%
The primary components of the year-over-year increase in net sales for the third quarter are as follows:
-- Mayne Pharma acquisition -- 25.6 percentage points;
-- Favorable volume/mix in the legacy Hospira business -- 2.1 percentage
points;
-- Favorable pricing in the U.S. -- 0.9 percentage point; and
-- Favorable foreign currency translation -- 0.9 percentage point.
A schedule detailing sales by product line for the three-month and nine-month periods ended Sept. 30, 2007 and 2006 is attached to this press release.
In conjunction with the previous table, the following summarizes the financial results for the third quarter of 2007 compared to the same period in 2006:
In $ millions GAAP Adjusted*
Three Months Ended Three Months Ended
Sept. 30, Sept. 30,
---------------- % ---------------- %
2007 2006 Change 2007 2006 Change
------ ------ ------ ------ ------ ------
Gross Profit $294.5 $219.0 34.5% $316.5 $237.6 33.2%
R&D $51.4 $36.5 41.0% $50.8 $36.2 40.2%
S,G&A $136.5 $103.5 31.9% $129.4 $99.6 30.0%
Income from
Operations $106.6 $79.1 34.9% $136.4 $101.8 33.9%
Statistics (as a % of Net Sales)
--------------------------------
Gross Profit 35.1% 33.9% 37.8% 36.7%
R&D 6.1% 5.6% 6.1% 5.6%
S,G&A 16.3%
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