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Par Pharmaceutical Reports Fourth Quarter and Full Year 2007 Results
Date:2/29/2008

WOODCLIFF LAKE, N.J., Feb. 29 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today reported fourth quarter and full year 2007 results ended December 31, 2007.

Fourth Quarter and 2007 Results

For the fourth quarter ended December 31, 2007, Par reported total revenues of $155.1 million and income from continuing operations of $5.5 million, or $0.16 per diluted share. This is compared with reported revenues of $183.6 million and income from continuing operations of $5.0 million, or $0.15 per diluted share, for the same period in 2006. For the year ended December 31, 2007, Par reported total revenues of $769.7 million and income from continuing operations of $51.1 million, or $1.47 per diluted share. This is compared with reported revenues of $725.2 million and income from continuing operations of $6.7 million, or $0.19 per diluted share, for 2006.

Fourth quarter 2007 reported, or GAAP, income from continuing operations included a pre-tax gain of $3.1 million from the Company's sale of its remaining investment in Optimer Pharmaceutical, Inc. ("Optimer") common stock and $4.6 million of additional share-based compensation expense related to the Company's issued stock option tender offer. Adjusting for these items, income from continuing operations for the fourth quarter of 2007 was $6.5 million, or $0.19 per diluted share. By comparison, income from continuing operations for fourth quarter 2006 included a $3.2 million investment gain, tempered by severance costs of $5.2 million, and a $1.0 million asset impairment. Adjusting for these items, income from continuing operations for the fourth quarter of 2006 was $6.9 million, or $0.20 per diluted share.

Par's reported, or GAAP, income from cont
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SOURCE Par Pharmaceutical Companies, Inc.
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