Mylan Reports Adjusted Diluted EPS of $0.16 for the Quarter Ended Jun...( - Mylan Increases Adjusted E...),Health

- Mylan Increases Adjusted EPS Guidance for 2008 to $0.47

- $0.53

PITTSBURGH, Aug. 6 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL) today announced its financial results for the three and six months ended June 30, 2008.

Financial Highlights

-- Adjusted diluted EPS of $0.16 for the three months ended June 30, 2008, which excludes the impact of certain purchase accounting items as well as other non-recurring items as discussed in detail below;

-- Total revenues of $1.20 billion for the three months ended June 30, 2008, an increase of $656.8 million over the same prior year period; and

-- On a GAAP basis, primarily as a result of purchase accounting items, the Company reported a loss per diluted share of $0.03 for the three months ended June 30, 2008.

"Our strong second quarter results were driven by a solid performance by each of our operating units and reflect the value we anticipated when we created our global platform," said Mylan Vice Chairman and CEO Robert J. Coury. "Based on the strength of our operations, our integration successes and the momentum of three consecutive quarters of strong results, we have increased the range of our earnings guidance."

Detailed Financial Summary

Mylan previously had two reportable segments, the Mylan Segment and the Matrix Segment. With the acquisition of Merck Generics on October 2, 2007, Mylan now has three reportable segments: Generics Segment (or Generics), Specialty Segment (or Specialty) and the Matrix Segment (or Matrix). The former Mylan Segment is included within the Generics Segment. Additionally, certain general and administrative and research and development expenses not allocated to the segmen
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