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Perrigo Reports Record Second Quarter Sales
Date:2/3/2009

es of existing products. Sales also included $33.4 million of sales from the acquisitions of JB Laboratories and Unico Holdings. In addition, international acquisitions, including Galpharm, Brunel and Diba, added $18.9 million.

Reported operating income was $56.3 million, compared with $38.8 million a year ago, largely driven by sales of new, higher margin products and improved management of operating expenses. Adjusted operating income was $60.1 million or an increase of 55% compared to a year ago.

For the first six months of fiscal year 2009, Consumer Healthcare net sales increased 38% or $224.1 million compared to fiscal 2008. The increase resulted from approximately $143.8 million of new product sales and a $38.2 million increase from higher domestic sales of existing products. The increase also included sales of $70.6 million from the Company's recent acquisitions, which were slightly offset by the absence of the U.K.'s vitamins, minerals and supplements business' sales of $16.0 million and the unfavorable effect of foreign currency exchange of $10.0 million.

On October 6, the Company announced that it acquired Laboratorios Diba, S.A. (Diba) for approximately $25 million in cash. Based in Guadalajara, Mexico, privately-held Diba is a store brand manufacturer of over-the-counter (OTC) and prescription pharmaceuticals, including antibiotics, hormonals and opthalmics. The acquisition is expected to add approximately $15 million of annual sales.

On November 13, the Company announced that it acquired Unico Holdings (Unico) for approximately $52 million in cash. Based in Lake Worth, Florida, privately-held Unico is the leading manufacturer of store brand pediatric electrolytes, enemas and feminine hygiene products for retail customers in the U.S. The acquisition is expected to add approximately $50 million of annual sales and to be accretive to earnings in the first 12 months.


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SOURCE Perrigo Company
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