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Longs Drug Stores Corporation Reports Second Quarter Results
Date:8/20/2008

benefit costs 96,500 54,174 259,589 146,670

Operating and administrative

expenses 307,388 295,030 617,049 581,300

Legal settlements and

other disputes, net 500 (431) 500 (431)

Provision for store

closures and asset

impairments, net 599 371 816 9,586

Operating income 46,482 44,287 86,019 72,257

Interest expense 2,786 1,772 5,572 3,448

Interest income (178) (282) (433) (478)

Income from continuing

operations before income

taxes 43,874 42,797 80,880 69,287

Income taxes 16,377 17,059 30,300 27,523

Income from continuing

operations 27,497 25,738 50,580 41,764

Income (loss) from

discontinued operations,

net of tax - 869 456 (2,119)

Net income $27,497 $26,607 $51,036 $39,645

Earnings per common share:

Basic:

Income from continuing

operations $0.78 $0.69 $1.42 $1.11

Income (loss) from

discontinued operations - 0.02 0.02 (0.05)

Net income 0.78 0.71 1.44 1.06

Diluted:

Income from continuing

operations $0.76 $0.67 $1.40 $1.09

Income (loss) from

discontinued operations - 0.02 0.01 (0.06)

Net income 0.76 0.69 1.41 1.03

Dividends per common share $0.14 $0.14 $0.28 $0.28

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SOURCE Longs Drug Stores Corporation
Copyright©2008 PR Newswire.
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